What are the types of leasehold rights?

Administrator, October 7, 2016

A home is necessary for people to live. No matter what type of housing it is, we almost always live in a residence. By doing so, we are able to live our lives. In many cases, that residence is built on land rented from someone else, and when you think about that, you can see that the issue of leasehold rights is not unrelated to us. First, let's consider that there are several types of leasehold rights. There are mainly types of leasehold rights, such as "self-leasehold rights," "fixed-term leasehold rights," and "surface rights." Each of these has its own characteristics and is used in different situations. However, each is an independent contract, so it is important to remember them.

First, self-leasehold rights, which can be said to be the most common right in leasehold rights. Usually, when we rent an apartment or condominium, it is renewed every two or three years. By renewing it, we can continue to live in that residence. Similarly, land rental...leasehold rights are also renewed, and self-leasehold rights are the subject of renewal. In addition, this land lease also confers the right to demand the purchase of the building, which allows the owner to have the building purchased when the contract expires.

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