End of 80 Year Lease with HGB - What Happens?

[Forestrah]

I have searched for a previous thread to help me with this query....but what happens at the end of the 80 year lease on an HGB land "ownership".....I cannot find the answer to this....so any info is greatly appreciated.

Also, I know there is talk about this being changed and if one day it does get changed will these leases be changed into actual freehold ownership?

Thanks in advance for anyone's post.

 

[Markit]

Firstly, welcome aboard Forestrah and since most people here on the forum already think I'm stupid I'll ask:

What are you talking about please? What is an HGB (Huge Green Ball, Hairy Great Buttock?)

What talk about "it being changed"? Again for those like me that are slightly dim can you please expand?

I have never heard of an 80 year lease anywhere and the chance of that being changed to a Freehold are non-existent as that would relieve the actual owner of the land from his property and give it to the leaseholder so: aint gonna happen. (He says, after admitting knowing bugger all about what you are on about.)

 

[joji gulapetis]

HGB can be turned into a hak milik under certain circumstances, but ONLY applies to Indonesian citizens who are NOT married to a foreigner. Otherwise forget about yr HGB being "upgraded. When you get close to the end of yr HGB lease you just extend it. Your notaris/PPAT should be able to take care of this.

:topsy_turvy::topsy_turvy:

 

[matsaleh]

HGB = Hak Guna Bangunan. Quoted from this site: Guide to Indonesian Law on Purchasing Property

Building Rights Title (HGB or Hak Guna Bangunan, Article 35-40)

The right to build on land is a type of leasehold that includes the right to build or construct on land. This form of title is available to Indonesian individuals, Indonesian companies, and Indonesian companies controlled by foreigners, known as PMAs. This type of title may be granted for an initial period of 30 years, and extended for two additional periods of 30 and 20 years (for a total of 80 years); thereafter it may be renewed for additional 30 years periods, by payment of an HGB tax; such subsequent renewals entail the right to then renew for two additional periods of 30 and 20 years, and so on. The level of taxation is set by the local Government. HGB is a real property right, and as such is recorded in the land registries and appears on all land title certificates. It may be transferred to third parties by sale, gift or inheritance, and may be used as collateral for local mortgage financing.

 

[davita]

Ferestrah...welcome to the forum as it's your first post.
The question you ask has been eloquently answered by matsaleh's post.
To get more advice I suggest you tell more of your situation with regard to citizenship and connection to Indonesia....as that is most important with regard to law.