Here's a good article on cross leases by NZH. So they were created back in the 60s by lawyers to get around the need to subdivide.
David Whitburn wants them gone and has a plan. Another law firm is offering a great deal to convert them to fee simple titles $6K for three (think that means up to 3 properties under one cross lease title).
The catch is councils won't play ball and say you need Resource Consent.
Lots of good examples in the article, though no mention of what happens when a property owner is in breach of the title. One owner razed their property to the ground and built a new bigger (2 levels) one that now overlooks the neighbour on 1 level - so what happens? They are fined? What?
And to add to it - our neighbours sold their property in 10 days. The purchaser may not be aware the flats plans don't reflect the property as there's been a few additions without neighbours consent. So what says the owner who's just sold.
What's that saying ....fortune favours the brave? I guess so.
cheers,
Donna
David Whitburn wants them gone and has a plan. Another law firm is offering a great deal to convert them to fee simple titles $6K for three (think that means up to 3 properties under one cross lease title).
The catch is councils won't play ball and say you need Resource Consent.
Lots of good examples in the article, though no mention of what happens when a property owner is in breach of the title. One owner razed their property to the ground and built a new bigger (2 levels) one that now overlooks the neighbour on 1 level - so what happens? They are fined? What?
And to add to it - our neighbours sold their property in 10 days. The purchaser may not be aware the flats plans don't reflect the property as there's been a few additions without neighbours consent. So what says the owner who's just sold.
What's that saying ....fortune favours the brave? I guess so.
cheers,
Donna
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