Basically, by saying that the property is “an estate in fee simple” or a “fee simple” property, what you are being told is that the property is NOT a cross lease or the other types of more complicated property types. With other types of title such as a cross lease title and unit title or stratum estate, you often have to obtain consent from the neighbouring owners, and there are other restrictions and complications associated with the title. The advantages of fee simple is that you essentially have unlimited use of what you can do with the land (subject of course to other easements on the title, Council bylaws and consent requirements). A fee simple estate is currently the most common type of estate in New Zealand and gives owners the most freedom in how to use their property.
There are a number of different estates or ‘bundled rights’ for land in New Zealand and ‘fee simple’ is one of those types of estates. Fee simple is a legal term used on property titles. (Freehold not to be confused with having no mortgage). 16 March, 2023 | Kandice Moore Fee simple is often referred to as “an estate in fee simple” or “freehold”.
