[MrUnderhill]

Quite common here in Norway as well, especially for cabins and holiday homes. Interestingly, as recently as 2012, the European Court of Human Rights in Strasbourg ruled that landowners were allowed to change the terms of land leases when they came up for renewal, overruling the national supreme court [1]. Before that, they were obliged to offer the exact same terms, adjusted only for inflation.

[1] http://www.newsinenglish.no/2012/06/13/lease-holders-now-on-...

[Someone]

On a hundred year bond, "adjusted for inflation" can already be a nasty surprise (5% inflation a year over a century gives you about a 2^7 multiplication factor, or two zeroes)

[smallnamespace]

Why would that be a nasty surprise? The real value is unchanged. Unless you're saying the adjustment only happens at renewal, and not annually?

[akvadrako]

Often that's the case and in some countries you typically owe the whole value for the next 40 years when it's renewed. Of course it could be absorbed in the mortgage.