the state's highest court, to the extent that it purported to extinguish property rights of leaseholders. New ground rent leases can no longer be created after 22 January 2007, and ground rent owners must register their leases with the State Department of Assessments in order to collect rents or file a lien for unpaid rents (although failure to register no longer risks extinguishment of the property right). New York More than a hundred condominium and co-op buildings exist on leased land in New York City, including notable high-rises like Trump Plaza and The Stanhope. Many date to the 1960s and 1970s, before the city became one of the world's most expensive real estate markets. Apartments in land-lease buildings tend to cost "25 ... to 40 percent" less than comparable units in buildings on owned land, according to one New York City property broker, but their "perceived risk" may cause difficulty selling or financing them. Monthly costs include rent payments for the land, so they are significantly higher than fees in an owned building, and can rise sharply and unexpectedly if the land's value is reassessed during a real estate boom. Theoretically, the expiration of a land lease could even turn shareholders/owners to tenants and render their investments worthless. Pennsylvania Ground rents in the Commonwealth of Pennsylvania are considered real estate and, in cases of intestacy, go to the heirs. They are rent services and not rent charges, the statute Quia Emptores never having been in force in Pennsylvania, and are subject to all the incidents of such rents. The grantee of a ground rent may mortgage, sell, or otherwise dispose of the grant as he pleases, and while the rent is paid the land cannot be sold or the value of the improvements lost. The owner of land can occupy it, or can improve it and sell the improvements (such as structures), while retaining title to the land, and charge the buyer ground rent. Since ground rent was a freehold estate, created by deed, and perpetual in duration, no presumption that it had been released could, at common law, arise from lapse of time. However, by statute (Act of 27 April 1855, s. 7), a presumption of release or extinguishment is created where no payment, claim, or demand has been made for the rent, nor any declaration or acknowledgment of its existence made or given by the owner of the