History of 999 property in Singapore

[Ringo33]

I realize many of the 999LH property in Singapore are all from the year 18XX. Does anyone know the history about these properties? How 999LH come about?

[sherlock]

I realize many of the 999LH property in Singapore are all from the year 18XX. Does anyone know the history about these properties? How 999LH come about?
There are also 956 yrs and 929 years as well... wonder why the weird numbers :confused:

[Khng8]

Good question.
So in theory, when the lease expire, who does it revert to?
The State?

[buttercarp]

There are also 956 yrs and 929 years as well... wonder why the weird numbers :confused:

999 years LH originates during the colonial days as it was implemented by the British and its colonies.

http://en.wikipedia.org/wiki/999-year_lease

Singapore became a british colony in 1819....so that's why the lease started around that time.

[ecimbew]

In the absence of any legal code, Raffles in early 1823 promulgated a series of administrative regulations. The first required that land be sold on permanent lease at a public auction and that it must be registered. The second reiterated Singapore's status as a free port, a popular point with the merchants. In his farewell remarks, Raffles assured them that "Singapore will long and always remain a free port and no taxes on trade or industry will be established to check its future rise and prosperity." The third regulation made English common law the standard, although Muslim law was to be used in matters of religion, marriage, and inheritance involving Malays.