Review the complete arrangement: cost, permitted use, responsibilities and exit. The headline term is only one part.
01
Define the leased asset
Check who grants the lease and exactly what land, building and rights it covers.
02
Read the payment schedule
List initial payments, rent, deposits, escalation mechanisms and additional charges. Clarify when payments become non-refundable.
03
Test change and exit
Ask about assignment, subletting, improvement ownership, early termination and remedies for default.
04
Review extension wording
Have a qualified adviser assess registration requirements and renewal language. Do not assume an extension happens automatically.
Turn reading into a useful record
Keep three columns in your working notes: the question, the source of the answer and the action still needed. Give each open issue a responsible person. Ask the relevant professional to explain the limits of their review, and preserve assumptions alongside the conclusions.
Before making a commitment
Use this checklist to prepare a more precise conversation. It does not establish rights, condition, value or suitability of any individual property. Obtain the appropriate independent advice for your transaction and confirm current requirements with the responsible authority.
Official starting points
Consult the Department of Lands and BOI land guidance with your adviser. BOI guidance concerns its own context and does not determine eligibility for an ordinary property transaction.
