999-year lease
Encyclopedia
A 999-year lease is, under historic common law
, essentially a nominal lease of property for life. The lease locations are mainly in Britain
, her former colonies and Commonwealth
. The longest possible term of a lease
of real property
is legally a 99-year lease
.
A number of other land and property leases use a 999-year lease agreement:
Common law
Common law is law developed by judges through decisions of courts and similar tribunals rather than through legislative statutes or executive branch action...
, essentially a nominal lease of property for life. The lease locations are mainly in Britain
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, her former colonies and Commonwealth
Commonwealth
Commonwealth is a traditional English term for a political community founded for the common good. Historically, it has sometimes been synonymous with "republic."More recently it has been used for fraternal associations of some sovereign nations...
. The longest possible term of a lease
Lease
A lease is a contractual arrangement calling for the lessee to pay the lessor for use of an asset. A rental agreement is a lease in which the asset is tangible property...
of real property
Real property
In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth...
is legally a 99-year lease
99-year lease
A 99-year lease was, under historic common law, the longest possible term of a lease of real property. It is no longer the law in most common law jurisdictions today, yet 99-year leases continue to be common as a matter of business practice and conventional wisdom.-The law:Under the traditional...
.
A number of other land and property leases use a 999-year lease agreement:
| Leased Item | Type | Place | Year term | Lease by | Leased to | Notes |
|---|---|---|---|---|---|---|
| Queen's Park | parkland | Toronto Toronto Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from... , Ontario Ontario Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa.... |
1859–2858 | University of Toronto University of Toronto The University of Toronto is a public research university in Toronto, Ontario, Canada, situated on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution of higher learning in Upper Canada... |
Province of Canada (Canada West) | park is now home to the Legislative Assembly of Ontario Legislative Assembly of Ontario The Legislative Assembly of Ontario , is the legislature of the Canadian province of Ontario, and is the second largest provincial legislature of Canada... and leased to the Government of Ontario Government of Ontario The Government of Ontario refers to the provincial government of the province of Ontario, Canada. Its powers and structure are set out in the Constitution Act, 1867.... |
| Point Pleasant | park | Halifax, Nova Scotia, | 1866–2865 | city of Halifax, Nova Scotia | Crown | |
| Commonwealth Institute Commonwealth Institute The Commonwealth Institute was an educational charity connected with the Commonwealth of Nations, and the name of a building in West London formerly owned by the Institute... building site |
property | London, England | 1951–2950 | Holland estate | Commonwealth Institute | |
| Pusey House, Oxford Pusey House, Oxford Pusey House is a religious institution located in St Giles', Oxford, immediately to the south of Pusey Street. It is firmly rooted in the Anglo-Catholic tradition of the Church of England... |
property | England England England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental... |
1981–2980 | Oxford, England | Oxford University | excluded chapel |
| The Crystal Palace The Crystal Palace The Crystal Palace was a cast-iron and glass building originally erected in Hyde Park, London, England, to house the Great Exhibition of 1851. More than 14,000 exhibitors from around the world gathered in the Palace's of exhibition space to display examples of the latest technology developed in... |
cost of building venue | London, England | 1851–2850 | Joseph Paxton Joseph Paxton Sir Joseph Paxton was an English gardener and architect, best known for designing The Crystal Palace.-Early life:... |
seat holders/owners | to financed by the sale of seats for ₤100 |
| Ontario and Quebec Railway Ontario and Quebec Railway The Ontario and Quebec Railway is a historic Canadian railway located in eastern Ontario.The railway had received a charter in 1881 and the Canadian Pacific Railway gained control, building the O&Q line between Perth and Toronto... |
railway company | eastern Ontario Ontario Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa.... and Quebec Quebec Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level.... |
1884–2883 | Canadian Pacific Railway Canadian Pacific Railway The Canadian Pacific Railway , formerly also known as CP Rail between 1968 and 1996, is a historic Canadian Class I railway founded in 1881 and now operated by Canadian Pacific Railway Limited, which began operations as legal owner in a corporate restructuring in 2001... |
owners of the OQR | now owned by St. Lawrence and Hudson Railway St. Lawrence and Hudson Railway The St. Lawrence and Hudson Railway was a wholly owned subsidiary of the Canadian Pacific Railway.The SL&H arose out of a corporate reorganization at CPR that was announced on November 21, 1995... , a subsidiary of the CPR |
| CFL Fortuna Fish Farming Limited (now Falklands Fish Farming Limited) | operating license | Falkland Islands Falkland Islands The Falkland Islands are an archipelago in the South Atlantic Ocean, located about from the coast of mainland South America. The archipelago consists of East Falkland, West Falkland and 776 lesser islands. The capital, Stanley, is on East Falkland... |
2007–3006 | government of the Falkland Islands Falkland Islands The Falkland Islands are an archipelago in the South Atlantic Ocean, located about from the coast of mainland South America. The archipelago consists of East Falkland, West Falkland and 776 lesser islands. The capital, Stanley, is on East Falkland... |
CFL Fortuna Fish Farming Limited (now Falklands Fish Farming Limited) | |
| Inverhuron Provincial Park Inverhuron Provincial Park Inverhuron Provincial Park is a provincial park located on the shores of Lake Huron beside the small village of Inverhuron, Ontario, near Tiverton, Ontario, Canada... |
park | Inverhuron, Ontario Inverhuron, Ontario Inverhuron is a community located within the Municipality of Kincardine in the Canadian province of Ontario. The community includes approximately 200 permanent residents and 400 seasonal cottagers.... , |
1973–2972 | Ontario Hydro Ontario Hydro Ontario Hydro was the official name from 1974 of the Hydro-Electric Power Commission of Ontario which was established in 1906 by the provincial Power Commission Act to build transmission lines to supply municipal utilities with electricity generated by private companies already operating at Niagara... |
Ministry of Natural Resources (Ontario) Ministry of Natural Resources (Ontario) The Ministry of Natural Resources is a government ministry of the Canadian province of Ontario that responsible for Ontario’s provincial parks, forests, fisheries, wildlife, mineral aggregates and the Crown lands and waters that make up 87 per cent of the province... |
lease now controlled by Bruce Power Bruce Power Bruce Power Limited Partnership is a Canadian business partnership composed of several corporations. It exists as a partnership between Cameco Corporation , TransCanada Corporation , BPC Generation Infrastructure Trust , the Power Workers Union and The Society of Energy Professionals... |
| site of proposed Liverpool F.C. Liverpool F.C. Liverpool Football Club is an English Premier League football club based in Liverpool, Merseyside. Liverpool has won eighteen League titles, second most in English football, seven FA Cups and a record seven League Cups... stadium |
property | Liverpool Liverpool Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880... , Merseyside Merseyside Merseyside is a metropolitan county in North West England, with a population of 1,365,900. It encompasses the metropolitan area centred on both banks of the lower reaches of the Mersey Estuary, and comprises five metropolitan boroughs: Knowsley, St Helens, Sefton, Wirral, and the city of Liverpool... , England England England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental... |
2006–3005 | Liverpool City Council Liverpool City Council Liverpool City Council is the governing body for the city of Liverpool in Merseyside, England. It consists of 90 councillors, three for each of the city's 30 wards. The council is currently controlled by the Labour Party and is led by Joe Anderson.-Domain:... |
Liverpool F.C. | for land on the proposed site of the club's new stadium |
| Royal Albert Hall Royal Albert Hall The Royal Albert Hall is a concert hall situated on the northern edge of the South Kensington area, in the City of Westminster, London, England, best known for holding the annual summer Proms concerts since 1941.... |
financing | London, England | 1871–2870 | The Corporation of the Hall of Arts and Sciences | seat holders/owners | by selling seats and boxes |
| Millennium Dome Millennium Dome The Millennium Dome, colloquially referred to simply as The Dome or even The O2 Arena, is the original name of a large dome-shaped building, originally used to house the Millennium Experience, a major exhibition celebrating the beginning of the third millennium... |
property and surrounding land | London, England | 2001–3000 | UK Government | Quintain and Australian retail developer Lend Lease | |
| Hampshire CCC Hampshire County Cricket Club Hampshire County Cricket Club represents the historic county of Hampshire in cricket's County Championship. The club was founded in 1863 as a successor to the Hampshire county cricket teams and has played at the Antelope Ground from then until 1885, before moving to the County Ground where it... |
land | Hampshire Hampshire Hampshire is a county on the southern coast of England in the United Kingdom. The county town of Hampshire is Winchester, a historic cathedral city that was once the capital of England. Hampshire is notable for housing the original birthplaces of the Royal Navy, British Army, and Royal Air Force... , England England England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental... |
1996–2995 | Queen's College Queen's College Queen's College, Queens' College or Queens College is the name of more than one institution, typically in the United Kingdom or its former colonies and dependencies.Most widely known Queens Colleges:... |
Hampshire County Cricket Club | former farmland |
| St. John's Cathedral St. John's Cathedral St. John's Cathedral, or Cathedral of St. John, or other variations on the name, with or without the suffix 'the Evangelist, may refer to:In Antigua:*St. John's Cathedral, St. John'sIn Australia:*St John's Cathedral, Brisbane... |
church | Victoria City Victoria City Victoria, Victoria City, or statutorily, the City of Victoria, was one of the first urban settlements in Hong Kong after it became a British colony in 1842. It was initially named Queenstown but was soon known as Victoria... , Hong Kong Hong Kong Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour... |
1847–2846 | British Crown | freehold again; land owned by the Government of Hong Kong Government of Hong Kong The Government of the Hong Kong Special Administrative Region of the People's Republic of China, commonly the Hong Kong Government, is led by the Chief Executive as Head of the Government, who is also the head of the Hong Kong SAR... |
|
| WACA Ground WACA Ground The WACA is a sports stadium in Perth, Western Australia. WACA are the initials of its owners and operators, the Western Australian Cricket Association.... |
stadium | Perth Perth, Western Australia Perth is the capital and largest city of the Australian state of Western Australia and the fourth most populous city in Australia. The Perth metropolitan area has an estimated population of almost 1,700,000.... , Western Australia Western Australia Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east... , Australia Australia Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area... |
1889–2888 | Government of Western Australia Government of Western Australia The formation of the Government of Western Australia is prescribed in its Constitution, which dates from 1890, although it has been amended many times since then... |
Western Australian Cricket Association Western Australian Cricket Association The Western Australian Cricket Association is the governing body for cricket in Western Australia.-History:The WACA was formed on 5 November 1885... |
reclaimed land from the Swan River Swan River (Western Australia) The Swan River estuary flows through the city of Perth, in the south west of Western Australia. Its lower reaches are relatively wide and deep, with few constrictions, while the upper reaches are usually quite narrow and shallow.... |