Is a 94 year lease good?

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asked Dec 1, 2021 in Real Estate - Renting by Ifartedonyou2 (1,040 points)
Is a 94 year lease good?

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answered Dec 1, 2021 by Shawn (99,990 points)
A 94 year lease can be good if you're buying the property.

If you're just renting a property and not planning on ever buying the property then getting a year lease would be much better.

This way you're not stuck with the lease for too long and can get out of the lease if you want too.

A 94 year lease or 99 year lease is good if you want to sell the property to someone and still have control over the property while they construct a building or rent a building or land from you for a long period of time.

The main purpose of having a period of 99 years is to control the rights of using it and the transfer of land.

The tenure is considered as an appropriate period to safeguard the ownership of lessor and using rights of lessee.

A ground lease involves leasing land for a long-term period—typically for 50 to 99 years—to a tenant who constructs a building on the property.

A 99-year lease is generally the longest possible lease term for a piece of real estate property.

It used to be the longest possible under common law.

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