Leasehold

Leasehold is a form of land use in which a person or entity is granted the right to use a piece of land for a specified period, usually long-term, in return for payment of an annual fee to the landowner. In Suriname, ground lease is regulated by the Ministry of Physical Planning, Land and Forest Management.

Here are some key features of leasehold in Suriname:

  1. Duration of ground lease period:
    The ground lease period in Suriname can vary, but is often long term, for example 30, 60 or even 99 years. During this period, the leaseholder has the right to use and operate the land according to the terms of the leasehold agreement.
  2. Annual leasehold fee:
    The leaseholder is required to pay an annual fee, also known as canon, to the landowner in consideration for the use of the land. The amount of the canon is often determined when the ground lease agreement is entered into and may be revised periodically.
  3. Right to use:
    Although the leaseholder has the right to use and operate the land, the landowner usually retains certain rights, such as the right to supervise the use of the land and to approve or restrict certain activities.
  4. Transferability:
    In Suriname, ground lease can be transferred to third parties in many cases, provided the transfer meets the terms of the ground lease agreement and any legal requirements.
  5. Registration:
    Leasehold agreements must be registered with the relevant authorities, such as the Registry of the Ministry of Physical Planning, Land and Forestry, to be legally binding and to protect the rights of the leaseholder.

Leasehold can be an attractive option for people who want to use land for long-term projects or investments, but may not have the resources to acquire land in full ownership. It offers a flexible and affordable way to use and operate land, while still providing some security and control to the leaseholder.

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