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Moffat Tunnel – leased to Union Pacific Railroad by the state of Colorado under a 99-year lease until 2025. [5] A lease extension of 25 years was agreed to after the initial 99 years expired. [6] [7] Ontario Highway 407 Express Toll Route – leased to private company by the Ontario provincial government under Premier Mike Harris for C$3.1 ...
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
Under British law at the time, a 99-year lease was the maximum allowed for the lease of land. The territories which were leased to the United Kingdom were originally governed by Xin'an County, Guangdong province. Claude MacDonald, the British representative during the convention, picked a 99-year lease because he thought it was "as good as ...
Provided that no lease of land which is entered into for a period of not less than 10 years or for the natural life of the lessee or any other person mentioned in the lease, or which is renewable from time to time at the will of the lessee indefinitely or for periods which together with the first period of the lease amount in all to not less ...
Under the terms of a lease agreement, the freeholder (the outright owner of the land or property) grants permission for a leaseholder to take possession of the property for a specified period of time. This could range from 21 years to 999 years, and during this time, the leaseholder will pay ground rent to the freeholder.
A non-cancelable lease is a lease that cannot be so terminated. Commonly, "lease" may imply a non-cancelable lease, whereas "rental agreement" may connote a cancelable lease. Influenced by land registration, commonly tenancies initially granted for more than a year are referred to more simply as leases. [6]