Cross Lease Title

Where a number of people own an undivided share in a piece of land.

There are often issues when buying and selling cross lease properties due to discrepancies with the flats plan creating a defective title.

Need neighbours consent to do most things.

May be a Residual Title if vacant land (extra cost to develop – needs to be surveyed, new title issued including flats plan (building consent) co-lessors consent etc).