Because 50 would be greedy.
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Historical business practice: https://en.wikipedia.org/wiki/99-year_lease …
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you gotta leave room for tax of course
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Auto-renewal?
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Ancient common law tradition https://en.wikipedia.org/wiki/99-year_lease …
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99 years is/was the longest period of time for a legal lease. First heard of this w.r.t. to UK's Hong Kong lease https://en.wikipedia.org/wiki/99-year_lease …
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Used to be the maximum. Now it's just convention, it means 'long'.
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This is what happens when 99 years are up: https://www.mba.org.au/news-and-media/news/article/renewing-a-99-year-lease-in-the-act-things-unit-holders-will-need-to-know/ …
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@Pinboard It's usually grants of land by crown or govt, where the lease gives you most property rights in xchg for small taxThanks. Twitter will use this to make your timeline better. UndoUndo
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i think it echos leasehold arrangements.https://en.wikipedia.org/wiki/Leasehold_estate …
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