In general, when a land lease expires, the land and everything attached to it, including any buildings or improvements, revert back to the landowner. This means that if a tenant’s lease expires, they lose ownership of any buildings they constructed on the land.
In New York City, land lease buildings are common in certain areas, including Lincoln Square and Battery Park City, but they make up a small fraction of the city’s residential buildings.
In the context of wind farms and farming lands, land leasing is an agreement between developers and property owners that grants the developer the necessary rights to develop turbines on the agreed-upon location.
When a land lease for a wind farm expires, the developer must negotiate a new lease with the property owner to continue using the land. If a new lease is not agreed upon, the developer may need to decommission the wind turbines and remove them from the land. Learn more about leasing land for farming.
