Freehold
This is the most common form of home ownership in New Zealand.  Freehold means you own the property and have few restrictions on what you can do with it.

Leasehold
You own the home, but you lease the land it is on for a specified time, and pay rent to the owner.  There may be restrictions on what you can do with the property.  You can sell the lease if you want to move on.

Unit title
You own your own unit (e.g. an apartment) but common areas such as entranceways and stairs are owned and looked after jointly by a body corporate.  You pay a fee to the body corporate for the upkeep of these common areas.

Cross lease
This is common where there is more than one home on a block of land.  Everyone owns the land together and leases their home from each other.  It’s similar to owning a freehold property but there may be more restrictions on what you can do with the property.

Company title
Often used for blocks of flats – you buy shares in the company which give you the right to live there.  The company administers, manages and maintains the property.

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