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Moffat Tunnel – leased to Union Pacific Railroad by the state of Colorado under a 99-year lease until 2025. [5] A lease extension of 25 years was agreed to after the initial 99 years expired. [6] [7] Ontario Highway 407 Express Toll Route – leased to private company by the Ontario provincial government under Premier Mike Harris for C$3.1 ...
Golden Checkerboard (1965) is a book by Ed Ainsworth about the mid-20th century economic conditions of the Agua Caliente Band of Cahuilla Indians of Palm Springs, California and the history of the 99-year lease law, which enabled them to commercially develop tribal-owned lands.
The court found that the explicit recognition of the right of action negated the need for notice as the tenant was already aware of this possibility when he signed the lease. On the other hand, the court in Langley Crossing Shopping Centre v North-West Produce , [ 8 ] held that separate notice was still necessary at the time of termination.
The California Alien Land Law of 1920 continued the 1913 law while filling many of its loopholes. Among the loopholes filled were that the leasing of land for a period of three years or less was no longer allowed; owning of stock in companies that acquired agricultural land was forbidden; and guardians or agents of ineligible aliens were required to submit an annual report on their activities.
Leaseholders have a right after two years to extend a lease with less than 99 years to run and reduce ground rent to a "peppercorn", i.e. close to zero, but developers have thwarted this with costly leases of more than 150 years that make the valuation – based on the ground rent and term – beyond the reach of leaseholders, and sell the ...
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
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