This two lots crosslease to freehold conversion project started when the owner of the front property reached out to Maison to enquire about the viability of converting her crosslease property into freehold. Her main concerns were

1) whether cost could outweigh the increase in value,

2) that she did not know who owns the other portion of the crosslease and how to contact them and

3) she was concerned by the possibility of entering into a difficult negotiation with the neighbour of having to compensate them for the 'loss' of their land, as although she owned 1/2 share of the land, in reality her house occupies a significantly larger portion of the land compared to her neighbour.

How did Maison help: We assisted the client throughout the project, from assessing feasibility of the project, locating the owners of the other crosslease property and negotiating cost sharing and compensation, and managing the conversion process from securing resource consent to issue of the freehold title.

Outcome: The new valuation obtained post- freehold conversion indicates that the client 'profitted' $80,000 from the project.