Cross Lease Conversions
What is a cross lease title?
A cross lease title means you own a shared fee simple interest and a leasehold interest in your property. You and your neighbour together own the underlying piece of land. That ownership is an undivided share.
Reasons to convert a cross lease title
- To get autonomy over your own land and buildings
- To make more alterations to the exterior of your home or change its footprint without needing your neighbour’s consent
- To resolve on-going issues with a defective cross-lease title
- To make it easier to borrow against and to insure your property
- To potentially improve market appeal and add to your property’s value.
Find out more about the benefits of converting cross-lease properties in Auckland.
How to convert a cross lease to a fee simple title
Firstly, make sure all owners are fully on board before you start. Our legal team at AlexanderDorrington can then prepare an agreement detailing each owner’s responsibilities and how the cross-leasing is to be completed.
We can convert a cross lease with up to 3 properties on it for $6,600 plus GST and disbursements
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.
Your path to greater autonomy
What is a cross lease title? If you’re not sure or you want to know more about converting a cross lease to a fee simple title, or if you need pricing specific to your Auckland cross-leased property, please get in touch with Christine Cechova or Mandy Davies. We can help. Call us on 09 375 2770.
What our clients say…
“Following an article in NZ Herald early in 2019 we contacted AlexanderDorrington about a plan we had as three owners on a cross-lease property on the North Shore. AlexanderDorrington offered a cost-efficient, one-stop service to convert our three properties to Fee Simple and presented as experts in their advocacy of the process.
We confirmed their appointment, along with their excellent surveying partner, Yeomans, mid-2019.
The whole process was completed in early 2020 without issue and effectively just under budget. Sure there were moments of anxiety along the way as this was a totally new ball-game to us all. The whole process was managed professionally with excellent communication at all times and obviously a most professional working relationship especially with Council. We simply had no issues and we put that down to excellent planning throughout.
Personally, I wouldn’t hesitate to recommend AlexanderDorrington and their one-stop conversion to fee simple package for anyone contemplating such action.”