Plain language law

New Zealand law explained for everyone

Land Transfer Act 2017

Dealings in estates and interests in land - Leases

93: Consent of registered mortgagee to variation of lease

You could also call this:

"Getting a lender's okay to change a lease"

Illustration for Land Transfer Act 2017

You need to get the consent of a registered mortgagee before you can register a change to a lease. This is because the registered mortgagee has an interest in the land. The consent is required for the registration of the lease variation instrument. If the lease is a cross lease, you must get the consent of the registered mortgagee of the cross lease. You must also get the consent of any other registered mortgagee of a cross lease held by someone who has an interest in the same land. This is to ensure that all parties with an interest in the land agree to the change. When you get the consent, it binds the mortgagee and anyone who later gets an interest in the mortgage. A cross lease is a special type of lease where the owners of the land grant a lease to the owner of a share in the land. This type of lease is often used for buildings on land that is owned by multiple people.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6962706.

This page was last updated on — View changes

Topics:
Housing and property > Buying and selling homesHousing and property > Land useMoney and consumer rights > Banking and loans
Previous

92: Variation of leases, or

"Changing the rules or length of a lease"

Next

94: Surrender of lease, or

"What happens when you give up a lease"

Part 3Dealings in estates and interests in land
Leases

93Consent of registered mortgagee to variation of lease

  1. The consent of a registered mortgagee of an estate or interest in land subject to a lease must be obtained before registration of a lease variation instrument.

  2. If a lease variation instrument relates to a cross lease, the consent of the following must be obtained before registration of the lease variation instrument:

  3. any registered mortgagee of the cross lease:
    1. any other registered mortgagee of a cross lease held by a person who has an estate or interest in an undivided share in the same land.

      1. A consent under subsection (1) or (2) binds the mortgagee and every person who subsequently derives an interest in the mortgage from the mortgagee.

      2. In this section, cross lease means a lease of a building or part of a building on or to be erected on land owned in common that is granted by all of the owners of the land to the owner of an estate or interest in any undivided share in the land.

      Notes
      • Section 93(2A): inserted, on , by section 84 of the Statutes Amendment Act 2025 (2025 No 74).