Land lease agreement, summary

Land lease agreement

La Casa Española I · Bingin, Uluwatu · [date of issue]

The deed under which a foreign buyer holds the villa: the term, what happens at the end of it, who is bound by the extension, and what the extension costs. Personal details of the counterparties are redacted in the published copy.

What the real document sets out

1. Parties, and the successors who are bound if the landowner dies
2. Term in years, the commencement date and the expiry date
3. Extension clause quoted in full: mechanism, price or formula, and whether it is pre-paid
4. What may be built and what may be operated on the land
5. Transfer and resale provisions, including whether consent may be withheld
6. Termination events and what happens to the building on expiry
7. Notary name, deed number and date of execution