2 ms·
>Emphyteusis That sounds similar to the freehold/leasehold system that exists in the UK. In this the owner of a piece of property can sell a leasehold, which
by pcrh 11y ago
>Emphyteusis
That sounds similar to the freehold/leasehold system that exists in the UK. In this the owner of a piece of property can sell a leasehold, which is the right to exclusive use for a set period of time (nowadays it is usually 999 years for residential property, but 99 years used to be common). At the end of the leasehold ownership rights revert to the freeholder. This was very convenient for landed nobility, who could re-sell the same land every couple of generations. The Duke of Westminster did very well out of it.
The right of a leaseholder to force sale of the freehold to themselves was introduced a few years ago, so this system will slowly fade.