Legal Definitions - bail emphytéotique

Definition: A renewable lease for a term of years that the lessee may prolong indefinitely.

Example: A farmer leases a piece of land for 99 years with the option to renew the lease indefinitely. This is an example of a bail emphytéotique.

Explanation: Bail emphytéotique is a type of lease commonly used in Canadian law. It allows the lessee to lease a property for a long period of time, usually 99 years, with the option to renew the lease indefinitely. This type of lease is often used for agricultural or commercial properties where long-term investment is required. The example illustrates how a farmer can lease a piece of land for a long period of time and renew the lease indefinitely, providing long-term security for their business.