Land Rental and Rent Reviews - please explain

OVERVIEW

In the Cook Islands, when land is LEASED from the original owners ( the Lessee ) ; the Leasehold ownership ( to the Lessor ) is for those remaining years left on the lease.

Even though there are no council rates or any other civic taxes associated with land ownership;  i.e. no water charges or domestic garbage collection, there is a yearly land rental that is paid to the indigenous landowners.

Land Rental and Land Rent Reviews

Where land is leased, rent will usually be payable to the landowners.

If the person leasing is a landowner or related to a landowner, the rental is usually a nominal amount or 'peppercorn' rental.

However, if the lease has been sold outside the family then rent may be payable at market rates or some other commercial basis.

​Whether you are a landowner or leasing land, seek legal advice for any rent reviews which may be due and how to complete these.

CREDITS to : Matysik and Marshall ( Cook Islands Lawyers )