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durable lease |
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durable lease A lease with an annual rent and a term “for as long as the grass grows or the water runs.” In most states, leases over 20 years in length must be recorded or they are void for their period beyond 20 years, and leases longer than 99 years are void for any longer periods, even if properly recorded. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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