16 Jul Auckland law firm shares leasehold vs freehold property pointers
Considering buying a property?
Now the question is Leasehold vs Freehold?
You’ve seen a very affordable leasehold property. What are the pros and cons?
Leasehold title
• Lessee buys the house but not the land.
• Lessee rents land from the lessor (ground owner).
• Lessee pays regular ground rent.
• Conditions sometimes apply for house upkeep.
Freehold title
• More common than leasehold.
• Homeowner owns house and land.
• No ongoing obligations to pay any other parties.
• Freehold title may become leasehold to provide rental income following sale of the buildings.
For further information on leasehold vs freehold property and property conveyancing please contact our lawyers in confidence.
Call your local law firm, Quay Law for legal advice on property law, conveyancing and any other legal services. Our Auckland lawyers can prepare wills and family trusts, property conveyancing for house sale and purchase agreements, relationship property settlements, commercial leasing, company law, property subdivisions and can assist you with you New Zealand Immigration.
Call Quay Law for legal advice on property law, conveyancing and any other legal services. Our Auckland lawyers can prepare wills and family trusts, conveyancing for house sale and purchase agreements, relationship property settlements, commercial leasing, company law, property subdivisions and can assist you with you New Zealand Immigration.
Contact a Lawyer in Auckland