In Reply to: To Surf addict posted by Rangatira on Tuesday, 28. February 2006 at 10:27 Bali Time:
as plain as day.
Back to the question of whether Hak P has collateral value,I really don't see why not.
Many high country farms in NZ have been on 99 year renewable leases for generations and it hasn't affected the ability of the runholders to borrow from banks or Stock firms.
Most of one suburb in Auckland is owned by the Anglican church who won't sell the land. In the Meadowbank area you take a lease from the church and a mortgage from the bank! Some of the houses must be well in excess of 60 years old and have changed hands, and mortgage providers, many times.
These are my personal observations but it seems logical.