Renewal of a 99-year lease

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Q: Can I extend the 99-year lease after a certain period? And what happens to my home after the 99-y… A: A 99-year lease is treated as a long-term lease as…

Ahmed Odeh · Accepted Answer

Dear Sir/Madam,A 99-year lease is treated as a long-term lease as  opposed to a freehold property where ownership is fully granted to you without expiry. Hence, upon the expiration of the 99 years, you and the developer may agree to extend the lease for a similar duration for a specific amount of compensation.Regards,Ahmed Odeh

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