Leases And Owning Improvements

[Lost in LOS]

just curious.........i see that you can lease the land and own the improvements. At the end of the lease if the lessor doesnt agree to extend it, can you bulldoze the lot and leave it as an empty lot since the improvements are built, paid and owned by you

just curious, I'll be dust long before the 30 years is up

thanks in advance

Jimmy

[backflip]

Yes you can, but it might behoove you to not think in "either/or" terms. Perhaps the owner of the land would buy the leasehold improvements, and both of you are better off.

[torrenova]

On the commercial side, it is not unknown for landlords to refuse a lease extension when substancial improvements have been made by the leaseholder, purely to "steal" them or to ask improbbable key money to effect the same purpose. You have to be very wary of the landlors'd position when making capital investments in leasehold property.

[Lost in LOS]

Yes you can, but it might behoove you to not think in "either/or" terms. Perhaps the owner of the land would buy the leasehold improvements, and both of you are better off.

I was thinking more of a bargining chip if the lessor doesnt want to renew the next 30 year option, which in my opinion is a bad deal for the lessor if he thinks he is winding up with an improved property, then you mention you are taking the improvements with you. I am looking at this since a 30 year lease may be the only option for us with new rulings and since i may have 20 years left i would like something to sell other than 10 years of the lease to pass on the realitives.

[eljeque]

Could you make one item in the contract that says the land must be returned in the same condition in which it was leased, and have pictures with all signatures on the back. This way, you are allowed to destroy anything that you have built without the possibility of the owner forcing you to maintain any improvements.

Good luck.

[lannarebirth]

Yes you can, but it might behoove you to not think in "either/or" terms. Perhaps the owner of the land would buy the leasehold improvements, and both of you are better off.

I was thinking more of a bargining chip if the lessor doesnt want to renew the next 30 year option, which in my opinion is a bad deal for the lessor if he thinks he is winding up with an improved property, then you mention you are taking the improvements with you. I am looking at this since a 30 year lease may be the only option for us with new rulings and since i may have 20 years left i would like something to sell other than 10 years of the lease to pass on the realitives.

If you get a usufruct on the property, you have it for your lifetime. That includes the possibility of leasing it for 30 years to another party prior to your death. In that way control of the property (or income from it) can exceed your lifespan.

[Naam]

If you get a usufruct on the property, you have it for your lifetime. That includes the possibility of leasing it for 30 years to another party prior to your death. In that way control of the property (or income from it) can exceed your lifespan.

that's quite interesting but has been never mentioned before. i wonder what Sunbelt's opinion is.

[lannarebirth]

If you get a usufruct on the property, you have it for your lifetime. That includes the possibility of leasing it for 30 years to another party prior to your death. In that way control of the property (or income from it) can exceed your lifespan.

that's quite interesting but has been never mentioned before. i wonder what Sunbelt's opinion is.

Good evening Dr. . I got that from Sunbelt, in one of their posts regarding usufructs. It's an interesting idea, huh?

There are others, but here is one reference (post 3) they made to this idea:

http://www.thaivisa.com/forum/index.php?showtopic=105777

Edited May 25, 2007 by lannarebirth