Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 


3390 posts

Uber Geek


  # 2378619 19-Dec-2019 15:07
Send private message quote this post

itxtme:

 

Issues with neighbours are mainly irrelevant to a crosslease.  A crosslease is a share of the whole land parcel.  It was commonly used in the 70's and 80's when the cost of subdivison meant this loophole method was preferrable.  This was cleaned up in 1991 RMA changes.

 

Things to consider with a crosslease have been laid out above involving physical changes to the building.  Many flat plans do not have rules around fences on your private area, so some of the warnings I think are bit over the top. Read the flat plan!

 



One thing I didnt understand was you DO own the property, you just share it. I thought the word "lease" meant the other person owned the land and it was a 999yr lease. So even if they say no to me raising the roof, oh well. That is the only change I had intended, but 3 years off anyway.

 

I totally agree. I was curious to see if anyone else felt this way.

 

Another thing, just because you are freehold doesnt mean the neighbour cant block your easement/drive with his boat the same as they can on a cross lease.

As itxt points out its all in the paper work.

This particular property I am looking at is ABUNDANT with plans and legalities, Im use to reading them but got lost there was so much haha, especially the builders/architects log as the house is being built i couldnt read his hand writing rofl.

 

Im offering roughly 18% less than what its peak value was, given Auckland has reclaimed a big chunk in the last 4 months of that 10% loss, I feel Im almost making money just by buying it for the price. If Auck does get back to its peak in late 2016 (which is a few % away I believe), then I feel Im definitely safe guarding against any end of the world economics like bloomberg has us at (2nd most likely country in the world to majorly crash ie 40%). No doubt I think we are due a correction, but I dont think it will be as bad as Ireland 08. We produce some physical goods, Dairy worries me with it becoming unpopular in some countries and Tourism has always worried me.

If i make 15% via the purchase, I feel thats all anyone can do in this market to mitigate risk, aside from paying the same amount to rent (if you put the amount as interest only it works out exactly the same as the 2 bedroom shoe box in central auck we had rented with screaming babies and neighbours who after 2 talks wont stop partying until 3am on a Wednesday to Sunday). Im getting too old for the city, does that make sense?

I "think" its a good move, bank manager said its a good buy and hes so grouchie but he was pleasantly surprised. Im middle aged, all my money is locked up Aussie, my friend who Im thinking of getting back with as a partner wants a baby, I want a baby. And if all goes well I can retire up Kerikeri in 10 years (oh such a long way off though).




6043 posts

Uber Geek

Moderator
Trusted
Lifetime subscriber

  # 2378626 19-Dec-2019 15:33
One person supports this post
Send private message quote this post

itxtme:

 

Issues with neighbours are mainly irrelevant to a crosslease. 

 

 

Legally maybe.  They're certainly relevant to your stress levels and wellbeing. 


 
 
 
 




3390 posts

Uber Geek


  # 2378680 19-Dec-2019 18:08
Send private message quote this post

gehenna:

 

itxtme:

 

Issues with neighbours are mainly irrelevant to a crosslease. 

 

 

Legally maybe.  They're certainly relevant to your stress levels and wellbeing. 

 



Id say they are little difference to freehold. Even with a perfectly set out cross lease, people can be pricks just as much as they can to a freehold neighbour, ie park where they shouldnt.

 

The only issue is when you want to change something, but the other cross lease has to have a legitimate reason they can stop you, but not for no reason. And as with freehold you have to go through council.

In saying that if you have a lawyer who printed his own degree on a Canon dot matrix, then you could have issues due to lack of legality and definition. Those quality of cross lease are rare and the ones that give it an unworthy bad name in the vast majority of cases

That is why when buying one you have a lawyer do the LIM etc. Although peak of the market people were buying houses, cross lease and freehold with no conditions. Id rather go put my deposit on red at the casino lol.


1068 posts

Uber Geek


  # 2380639 23-Dec-2019 20:29
Send private message quote this post

Would the adding of a second storey to a house on a cross leased property be seen as a change to the cross lease footprint plan?


1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Vodafone integrates eSIM into device and wearable roadmap
Posted 17-Jan-2020 09:45


Do you need this camera app? Group investigates privacy implications
Posted 16-Jan-2020 03:30


JBL launches headphones range designed for gaming
Posted 13-Jan-2020 09:59


Withings introduces ScanWatch wearable combining ECG and sleep apnea detection
Posted 9-Jan-2020 18:34


NZ Police releases public app
Posted 8-Jan-2020 11:43


Suunto 7 combine sports and smart features on new smartwatch generation
Posted 7-Jan-2020 16:06


Intel brings innovation with technology spanning the cloud, network, edge and PC
Posted 7-Jan-2020 15:54


AMD announces high performance desktop and ultrathin laptop processors
Posted 7-Jan-2020 15:42


AMD unveils four new desktop and mobile GPUs including AMD Radeon RX 5600
Posted 7-Jan-2020 15:32


Consolidation in video streaming market with Spark selling Lightbox to Sky
Posted 19-Dec-2019 09:09


Intel introduces cryogenic control chip to enable quantum computers
Posted 10-Dec-2019 21:32


Vodafone 5G service live in four cities
Posted 10-Dec-2019 08:30


Samsung Galaxy Fold now available in New Zealand
Posted 6-Dec-2019 00:01


NZ company oDocs awarded US$ 100,000 Dubai World Expo grant
Posted 5-Dec-2019 16:00


New Zealand Rugby Selects AWS-Powered Analytics for Deeper Game Insights
Posted 5-Dec-2019 11:33



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.