A lease term is the number of years land is leased. A lease term has a starting date and an end date. For instance, a lease term spanning five years that starts in 2010 will end in 2015.
Any number of years between 3 and 75 years depending on the agreement made between a lessor and the lessee. It is up to the lessor to choose how many years he wants to lease out his land.
A lease term is dependent on whether the the lessee wishes to lease land for Residential, Industrial, Agricultural, Special and/or Commercial purposes. For example, if a person wants an agricultural lease to graze cattle for a short time, the lease term may be set at three and a half years.
A lease term is important because it is the number of years following which the land may return to the lessor according to the lease agreement the lessor signed with the lessee.
Yes, it is very important that the lessor negotiates the term of lease. The term of lease desired by the lessee may be different from the lessor's plans for the plot of land in question.
The lessee cannot force a lessor to agree to a term he does not consent to.
It is not compulsory for every lease term to be set at 75 years.
The negotiation of a lease term depends largely on the kind of activity the lessee wishes to undertake on the land.
The lease term is in the application for 'Agreement or Condition' of Lease which the lessor will sign with the lessee.
The Lease Execution Unit of the Department of Lands is in charge of all information regarding the negotiation of a lease term.