Q.
How to calculate the premium on renewal of lease? There are two types of premium on lease and under the below situations, provide your explanation with examples.
- Premium on conversion of category of land use during alienation or at a later date. (10 marks)
- Premium on extension of lease upon renewal, usually when lease is left less than 10 years. (10 marks)
- List the five (5) major factors which determine the premium. (5 marks)
(25 marks)