TIP ON CASH-FLOW DIFFERENCE
Q I own several standalone,
freehold properties in
Kohimarama (Auckland). There are a number of leasehold properties in the area. Is it legally possible to convert my properties to leasehold? I am thinking of selling the properties, but retaining the land.
A This is a good question. It invites
a brief explanation of the types of ways in which we own property in New Zealand. A fee simple estate is the closest land concept we have to complete ownership (sometimes called Allodial title). A leasehold estate is where there is an underlying owner (the landlord) and someone who obtains a right to occupation and exclusive possession by something less than complete ownership. By this mechanism a lessee or a tenant in NZ obtains an interest in the land, but does not own it.
There are other archaic concepts of ownership, the only one that is in
