Douglas Todd: Why 99-year home leases are on the rise across Metro Vancouver

Ninety-nine years is a long time.

In common law, a 99-year term has become a conventional way to mark a span beyond the life expectancy of any person taking part in an agreement.

And now — as 99-year home leases proliferate across Metro Vancouver — more prospective buyers are having to consider whether they want a deal in which neither they nor their inheritors will end up “owning” actual dirt.

What is the long and short of residential property leases?

It’s becoming a key question because home leasing is one of the big waves of the future in Metro Vancouver because of the affordability crisis. B.C. realtors, to retain their licences, are increasingly required to take courses in leasing.