The Meaning of Leasing for Generations
- Buying an apartment in Israel
- The Sales Contract
The “lease for generations” is fundamentally different from a regular lease. It is essentially closer to ownership than to rent. Usually, these ownership properties are granted to it in contractual obligations.
Whether a lease for generations is the same as a transfer of ownership and whether it transfers the building rights in the property ultimately lies within the content of every contract.
As required by a decision in a contractual dispute, the question focuses on the disclosure of the parties’ intent to the contract, and this is inferred from the wording of the agreement, its nature, purpose, and the circumstances related to it.
The long lease period, which is practically the same as permanent, indicates an intention to reach as close as possible to the closest result to ownership with regard to the use and utilization of the land.