Share of freehold section?
| # | Post |
|---|---|
| 1 | I came across this term and, to me, it sounds like crosslease (which isn’t a thing anymore, except for existing cross leases). Does anyone understand what it means, other than crosslease? Just struck me as odd. The first word, I am presuming, would be “half” share, as there are two houses on the land, but is missing from the ad. TIA unknowndisorder - 2021-01-06 09:34:00 |
| 2 | If it’s a crosslease, the wording is likely to be something like “undivided freehold half share of xxx”, which means that you both equally own all the land, even though you might have specified exclusive areas that might be more of less than half. sparkychap - 2021-01-06 09:41:00 |
| 3 | Post the ad and we can confirm what it is... sparkychap - 2021-01-06 09:44:00 |
| 4 | unknowndisorder wrote:
The agent should know but with the absence of further information it appears to be a crosslease. johnston - 2021-01-06 10:22:00 |
| 5 | Could be a tenants in common arrangement. There are people trying to sell anything in the 'less attractive' category atm. serf407 - 2021-01-06 11:09:00 |
| 6 | serf407 wrote:
That would be part of the crosslease. That's how the flat owners share the freehold. As tenants in common. johnston - 2021-01-06 11:13:00 |
| 7 | It does not just mean the land is currently owned by "20 Smith Street Ltd" and a half share in this company is available for purchase ??? onl_148 - 2021-01-06 11:53:00 |
| 8 | onl_148 wrote: unlikely - my money is on a cross lease and a lazy agent. In fact I suspect I’ve found the listing in Te Atatu. Crosslease. sparkychap - 2021-01-06 12:02:00 |
| 9 | onl_148 wrote:
Would that be an undivided or divided share? johnston - 2021-01-06 12:24:00 |
| 10 | johnston wrote: selling company shares not land, company just happens to own land. gabbysnana - 2021-01-06 13:30:00 |
| 11 | sparkychap wrote:
Or an agent that thinks no one will notice. travlr - 2021-01-06 13:37:00 |
| 12 | " share of 1209m2 freehold land" sparkychap - 2021-01-06 13:51:00 |
| 13 | sparkychap wrote:
There was (May still be?) a salesperson in Christchurch who would divide the total area of a crosslease in half and enter that as land area for the property on their advertising. paysanne - 2021-01-06 14:55:00 |
| 14 | onl_148 wrote:
Actually I think I have found a hole / error in my posting... I do not think you are allowed to offer to the public shares in a private company... there are all sorts of listing / prospectus type hoops you have to jump throu to offer to the public shares in any company !! onl_148 - 2021-01-06 15:49:00 |
| 15 | paysanne wrote:
Have seen private listings like this also familiadude1 - 2021-01-06 16:27:00 |
| 16 | gabbysnana wrote:
Not relevant here because the purchaser is not buying any share in the land. johnston - 2021-01-06 16:32:00 |
| 17 | onl_148 wrote: Offering publicly tradable shares is different to offering to sell a share in a private company. Nothing wrong with the second, its a private transaction. But irrelevant here anyway. sparkychap - 2021-01-06 17:38:00 |
| 18 | paysanne wrote: Rookie error, or deliberately misleading...? Either way, no excuse for a licenced sales person - clearly insufficient supervision. sparkychap - 2021-01-06 17:40:00 |
| 19 | sparkychap wrote:
Agreed. johnston - 2021-01-06 17:57:00 |
| 20 | sparkychap wrote: paysanne - 2021-01-06 19:49:00 |
| 21 | paysanne wrote:
The point though is that a rookie error is still unlawful. Being new and inexperienced is no excuse. johnston - 2021-01-06 20:11:00 |
| 22 | sparkychap wrote: thank you, sorry been busy and had forgotten about the post. Yes, that will be the ad :) lol - now back to reading the rest of the replies. Sorry folks :) unknowndisorder - 2021-01-06 20:37:00 |
| 23 | johnston wrote:
100%. Just clarifying it wasn’t a rookie doing it, and the cynic in me thought it was deliberate. paysanne - 2021-01-06 20:41:00 |
| 24 | unknowndisorder wrote: No problems at all...that's def cross lease. sparkychap - 2021-01-06 20:42:00 |
| 25 | sparkychap wrote: Edited by unknowndisorder at 8:52 pm, Wed 6 Jan unknowndisorder - 2021-01-06 20:51:00 |
| 26 | sparkychap wrote:
Actually says in the ad its a cross lease. mrcat1 - 2021-01-07 09:32:00 |
| 27 | mrcat1 wrote: So they agree with me. Goodie! sparkychap - 2021-01-07 09:37:00 |
| 28 | mrcat1 wrote:
It does and the only minor criticism I can think of is that it should have read half or whatever share of the freehold. A 30 second call to the agent would have sorted it. johnston - 2021-01-07 10:35:00 |
| 29 | Is the owner in breach of the lease though? johnston - 2021-01-07 10:39:00 |
| 30 | mrcat1 wrote: i am sure it didn’t initially. unknowndisorder - 2021-01-07 13:24:00 |
| 31 | unknowndisorder wrote:
The power of the real estate message board! johnston - 2021-01-07 13:33:00 |
| 32 | johnston wrote:
why ? is a peach tree or deck involved ? jethrocat - 2021-01-07 21:49:00 |
| 33 | jethrocat wrote:
Ha, no but I am curious if all the additional structures have written consent of the other owner. johnston - 2021-01-08 07:25:00 |
| 34 | We built on a cross lease in West Harbour, Massey side (Aucks). There were two "halves" and a common area. On a recent drive through we noticed that our old place has fully fenced including the common area and it appears a bigger garage also sits on part of it. Still listed as cross lease so be interesting when that, or it's other half comes up for sale. hers.nz - 2021-01-09 15:20:00 |
| 35 | hers.nz wrote:
A structure on common area. What could possibly go wrong? johnston - 2021-01-09 15:30:00 |
| 36 | In case anyone cares, the place sold for just over $800k unknowndisorder - 2021-01-31 09:48:00 |
| 37 | unknowndisorder wrote: $ 800K for a 80m2, 2 bed on a crosslease. sparkychap - 2021-01-31 12:38:00 |
| 38 | sparkychap wrote: bit more tHan I thought it would go for, but cheap for the area, unless you want an apartment with no parking, a handkerchief size lawn (exaggeration, it’s not that big), and really nothing positive to say about them. (Except they positively should not be built anywhere and those developers should all be made to live in one, especially if they have kids) unknowndisorder - 2021-01-31 13:11:00 |
