The lease contract of collective construction land shall be 20 years at most.
The lease term shall not exceed twenty years. If it has been more than 20 years, the excess part shall be invalid.
When the lease term expires, the parties may renew the lease contract; However, the agreed lease term shall not exceed 20 years from the date of renewal.
[Legal Basis]
Article 705 of the Civil Code states that the lease term shall not exceed 20 years. If it has been more than 20 years, the excess part shall be invalid.
When the lease term expires, the parties may renew the lease contract; However, the agreed lease term shall not exceed 20 years from the date of renewal.
