Legal Definition and Related Resources of Building lease
Meaning of Building lease
A lease of the soil for the purpose of erecting buildings thereon, usually for a long term. See “Ground Rent.”
What does Building Lease mean in American Law?
The definition of Building Lease in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
A lease of unimproved land, usually long term (especially ninety-nine years), in which the lessee agrees to pay rent (“ground rent”), and to build or maintain one or more structures. Also ground lease.A lease of unimproved land, usually long term (especially ninety-nine years), in which the lessee agrees to pay rent (“ground rent”), and to build or maintain one or more structures. Also ground lease.
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You might be interested in these references tools:
| Resource | Description |
|---|---|
| Building Lease in the Dictionary | Building Lease in our legal dictionaries | Browse the Legal Thesaurus | Find synonyms and related words of Building Lease |
| Legal Maxims | Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law |
| Legal Answers (Q&A) | A community-driven knowledge creation process, of enduring value to a broad audience |
| Related topics | Building Lease in the World Encyclopedia of Law |
Notice
This definition of Building Lease Is based on the The Cyclopedic Law Dictionary . This definition needs to be proofread..
Vocabularies (Semantic Web Information)
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| Sitemap Index | Sitemap Index, including Taxonomies |
| https://legaldictionary.lawin.org/building-lease/ | The URI of Building Lease (more about URIs) |
English Legal System: Building Lease
In the context of the English law, A Dictionary of Law provides the following legal concept of Building Lease : A lease under which the tenant covenants to erect specified buildings on the land. Sometimes the lease only begins when the buildings have been erected. At the end of the lease the buildings generally become the property of the landlord. It used to be common for residential property to be built under a building lease, usually for 99 years, under which the landlord would let to a builder at a rent that ignored the value of the buildings (*ground rent), and the builder would sell the lease to a tenant. Under a lease of this kind, the tenant may acquire a statutory right to purchase the freehold under the Leasehold Reform Act 1967.
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