Leasehold is regulated in Curaçao in articles 85 to 100 of Book 5 of the Civil Code of Curaçao. On the island, government land is often issued on a long lease. The Refineria de Kòrsau (RdK) has also issued land on a long lease. There are also forms of private leasehold on Curaçao. This is when it does not involve government land or companies that belong to the government, such as RdK.
How does ground lease in Curacao work?
Leasehold in Curaçao is an arrangement whereby a person (the leaseholder) acquires the right to use and operate a piece of land for a specified period of time, in return for payment of an annual fee to the owner of the land (the leaseholder). This arrangement is similar to leasing, in which the leaseholder acquires the right to use the land without becoming the owner.
Ground lease and ground lease deed
Leasehold is a legal construction that is common in Curaçao. It is a way to be able to use land for an annual fee (the canon), without the user being confronted with the high lump sum costs for acquisition of full ownership. The disadvantage is that ground lease is often for a fixed term (for example, 25, 50 or 75 years) and then, in principle, ends. This can cause conflicts between the leaseholder and ground leaseholder. Therefore, when buying a leasehold, it is important to pay close attention to what is stipulated in the leasehold deed about what happens after the expiration of the fixed term.
Lawyer leasehold Curacao
For advice on leasehold rights in Curacao, please consult the lawyer real estate of Lexys Advocaten. They have years of experience in advising and litigating about ground lease rights. Not only in the Netherlands, but also in Curacao. Direct contact? Please fill out the form below or call +599 788 9920 (local rate).
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