An emphyteusis (emphyteutic lease) or long lease is a long-term property lease or rental agreement.
It is signed for a minimum term of 27 years and a maximum term of 99 years. An emphyteutic leaseholder (like a tenant in a residential lease) receives full use of a building or plot of land in return for payment of a certain amount.
The long lease contract must be drawn up by a notary.
Before taking possession of the building, a stock-taking inspection must be carried out.
During the term of the contract, emphyteutic leaseholders may carry out construction and improvement work, provided that they make any repairs that may become necessary to preserve the building. The leaseholder must take care not to damage the building and must act with due diligence throughout the term of the contract.
At the end of the emphyteusis, the emphyteutic leaseholder returns the building or land to the owner.