What is a cross-lease?
If your home is on a cross-lease title, you own a shared fee simple interest and a leasehold interest. You and your neighbour(s) together own the underlying land. That ownership is an undivided share.
- Get autonomy over your own land and buildings;
- Make more alterations to the exterior of your home or change its footprint without your neighbour’s consent;
- Resolve on-going issues with a defective cross-lease title;
- Make it easier to borrow against and insure your property;
- Potentially improve market appeal and add to the property’s value.
We recommend all owners are fully onboard before you start. We prepare an agreement for all parties to sign. It details each owner’s responsibilities and how the cross-leasing is to be completed.
If you want to know more (or need pricing specific to your situation) please get in touch. Our team has been successfully converting cross-lease titles for many years. We can help you on the path to greater autonomy. Call us on 09 375 2770.
We can convert a cross-lease with up to 3 properties on it for $6,000 plus GST and disbursements.
Terms and conditions: This price applies to cross-leases with no more than one mortgage per property. Work on any additional issues will be charged at our current hourly rate. Full co-operation of all owners is required to eliminate hold ups or delays caused by absence. Additional fees apply should delays occur.
- Thinking of selling? Discover even more reasons to convert in Zak’s blog.
- Zak Nasir and Debra Dorrington were interviewed about their work on cross-lease conversions for a recent NZ Herald article, Cross about cross-lease: Battles from the property combat zone.
Buying or selling your home?
You’ve found your dream home. It’s tempting to sign up on the spot so you don’t miss out. However, we urge you to do your homework on a property before you sign anything.
That’s where we can help. We can provide the property title information on the home you’re after within just 24 hours. So you can make your offer with greater confidence.
We make the whole process of selling your home stress-free.
Download our helpful Guide for first home buyers. It tells you the sorts of things you need to organise. It also outlines what your lawyer will look after for you and explains some of the terms us lawyers use.
Are you entitled to use your KiwiSaver for your first home? Find out more here.
Our fees are standard for buying or selling a home. They vary depending on what is involved. For example, whether you need a mortgage or whether a trust is buying or selling the property.
Investing in residential property?
We can help you maximise your rental and reduce your asset risk.
More and more New Zealanders are choosing residential property investment as their preferred route to financial growth. Property investment may appear less confusing than other forms of investment like shares, options or even commercial property but there are still many risks. Your wealth could be compromised if you don’t consider the bigger picture. Considerations like:
- How does the Unit Titles Act affect your investment plan?
- What does the Resource Management Act mean to your investment objectives?
- What is the impact of your ownership structure?
- What’s hidden in all the small print?
Property investment is actually complex – and the laws around it are continually evolving. If you don’t get the right legal advice at the start, you may not make the financial gains you were planning on.
That’s where we can help.
Beware well-meaning amateurs
Many people new to residential property investing lock themselves into costly deals and problem contracts by listening to amateur opinions. It is best to seek proper legal advice.
There are many ways to invest in residential property. Not all will be right for you. Each option comes with its own ramifications. You’re not likely to be aware of these without legal advice. In addition, the rules around property are constantly changing so you can see why it’s important to get the right advice right from the start.
Our team of property lawyers and legal executives has worked on many different types of property investments. We’ll sit down and discuss your goals with you. Once we understand what you want to achieve, we can explain and help you through this exciting process. We can help you on your way to achieving your financial goals through property investment.
Read our blogs on buying and selling property.
Call us on 09 375 2770 for an appointment to discuss your residential property investment legal matters.
Buying or selling apartments?
It’s more complex than buying or selling a standalone property. We can make it easy for you.
Every apartment building has a range of different issues to consider.
- Is it a Unit Title? If so, how does it impact on your sale or purchase?
- What are the management arrangements?
- Are there leases? Are they registered?
- What do you need to know about the underlying land?
At AlexanderDorrington we’ll effectively deal with these issues for you and manage your sale or purchase through to completion.
We have years of experience in helping people buy and sell apartments (completing over 350 settlements in the last 12 months alone).
We are experts in the Unit Titles Act 2010. This is important because most apartment complexes are subject to this legislation. Our team has written The Body Corporate Guide, an e-book for anyone who is affected by the Act (email us to request your complimentary copy). It’s a great introduction but bear in mind that it was prepared when the legislation was first written.