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    99-year lease - Wikipedia

    • A 99-year lease is, under historic common law, the longest possible term of a lease of real property. It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom. See more

    The law

    Under the traditional common law doctrine, the 99-year term was not seriously literal, but merely an arbitrary time … See more

    Examples

    • Destroyers-for-bases deal – leased old U.S. Navy destroyers to the United Kingdom in exchange for the right to construct U.S. Armed Forces bases in the British Empire, including Newfoundland, the British West Indies, … See more

    See also

    • 999-year lease – Quasi-permanent leasehold
    • Ground rent – Rent for the ground where a tenant can do property development
    • Lend-lease – WWII program to provide U.S. allies with free armaments … See more

    Did You Know: Why Leases Are For 99 Years? - PropTiger.com
    PropTiger.com
    Wikipedia text under CC-BY-SA license
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