LEASEHOLD
The municipality of Amsterdam has leased land since 1896. Leasehold means, in short, that you do not own the land or property, but get the rights to use it as if you were to own the land. For this use, you must pay a fee to the municipality, which we call “canon”. With more than 250.000 leasehold contracts in Amsterdam, there is a good chance you, as a buyer, will encounter leasehold. At KB Notarissen we outline precisely what this means, and which general and exceptional stipulations apply.
The better part of the leasehold contracts in Amsterdam consists of continuous leasehold rights. Usually, these rights can be, usually after 50 years, be revised by the municipality, including the terms and conditions in the canon. On the 9th of May 2017, the College of Mayor and Aldermen decided to convert continuous leasehold into perpetual leasehold. How this works, for this the municipality has instated the transfer regulation. KB Notarissen can be of service concerning this transfer.
Asides from explaining and clarifying leasehold, KB Notarissen has daily involvement in distributing land or apartment rights in leasehold, the conversion of leasehold contracts, zoning changes and the redemption of the canon.
