Precedents for residential property which specify a 999 year lease can be found in the following resources: 

  • Aldridge, Practical Lease Precedents (looseleaf, 1987- ) Precedent 5B.15 : Lease : flat not included in collective enfranchisement : lease-back to freeholder. This precedent includes a term of 999 years with a service charge.
  • Butterworths Property Law Service (looseleaf, 1989-) Division IV Precedent 15 : Lease of first floor flat : building has flats on five floors : with insurance and service charge payable. Term of 999 years with rent payable quarterly. There is brief commentary on 999 year leases at para. [761].

Commentary on business leases for 999 years can be found in Levine, Commercial Property Development Precedents (looseleaf, 1993-). In the introduction to Precedent C10 : Developer’s lease, it states that the length of the term may be anything from 50 to 999 years but that the use of 999 year leases is normally confined to instances of disposal of properties by means of the grant of leases at a premium. 

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(Common Queries record last updated May 2014)

Disclaimer

This FAQ is compiled by the Law Society Library. While every effort has been made to ensure the accuracy of the information in this article, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given.