Leasehold Land

[Aviator]

Tuseme umepata mburoti maguta maguta. Exactly what you've been looking for. Fairly priced. But its a 99yr lease from 1991.

Someone pls explain to me, like a 2-yr old, what happens after 99yrs. And would you buy it?

 

[Cortedivoire]

You have to renew the lease with the county government upon the expiry of 99 years

 

[Therapist]

You have to renew the lease with the county government upon the expiry of 99 years

Juu hao cartels watakuwa wamekufa?

 

[Aviator]

You have to renew the lease with the county government upon the expiry of 99 years

Is renewal guaranteed?
And at what cost?

 

[Cortedivoire]

Is renewal guaranteed?
And at what cost?

You pay A percentage of the market value of the land at the expiry of the lease to the government. Like stamp duty

 

[mzeiya]

Following..

 

[upepo]

Tuseme umepata mburoti maguta maguta. Exactly what you've been looking for. Fairly priced. But its a 99yr lease from 1991.

Someone pls explain to me, like a 2-yr old, what happens after 99yrs. And would you buy it?

It means the lease will be due for renewal in 2090, something that happens almost automatically unless you decide not to renew. I think that should not worry you. By then even your grandson/stepson will be almost gone.

 

[kibinda nkoye1]

Tuseme umepata mburoti maguta maguta. Exactly what you've been looking for. Fairly priced. But its a 99yr lease from 1991.

Someone pls explain to me, like a 2-yr old, what happens after 99yrs. And would you buy it?

i would buy it if it ticks the rest of the boxes

 

[Kabuda]

Leases can also be privately owned.
Some people invest in leases rather than in property.
Chungana that it is not privately owned because it's more likely to give you a bigger headache dealing with an individual instead of kanjo.
Also, leases come with a hell lot of small print and limitations as to the use of the land/property.
Make sure you get thorough legal understanding from a lawyer that knows what they're doing.

(When the deal is too good........ etc etc.....)

 

[Makavelli]

Is renewal guaranteed?
And at what cost?

You will have the first option of renewal before other parties after the lease expires

 

[Ubongo]

Don't hesitate to buy

 

[Mzito Jimit]

It means the lease will be due for renewal in 2090, something that happens almost automatically unless you decide not to renew. I think that should not worry you. By then even your grandson/stepson will be almost gone.

We are 70 years away from then