Ground leases are an effective tool that property owners can use to maximize the upside potential of their asset without the expenses associated with transferring ownership of the property through a conventional sale.
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GROUND LEASES. by Kimberly M. Reed, ATG Law Clerk. When an owner makes a long-term lease of land only, the lessee is said to have obtained a ground lease. Also called a land lease, a ground lease is commonly for a term of 50 to 99 years. The tenant usually is required to construct a building or maintain and use current improvements on the land.
In a ground lease deal, the developer doesn't buy the land, but rather leases it from the landowner, typically for a period of 99 years. At the end of the lease, whatever improvements the developer has made to the land become the property of the landowner. GROUND LEASES. by Kimberly M. Reed, ATG Law Clerk. When an owner makes a long-term lease of land only, the lessee is said to have obtained a ground lease. Also called a land lease, a ground lease is commonly for a term of 50 to 99 years. The tenant usually is required to construct a building or maintain and use current improvements on the land.
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There are ways to structure your ground lease exchange so that it satisfies IRC Section 1031. A ground lease is a type of decades long, long-term commercial lease where the tenant owns the structure but not the land it sits on. The landlord owns a fee simple interest in the ground, not the structure. Tenants have the right to develop and use. Ground Lease Contact Us Open Menu Close Menu Contact Us 101, 105, and 107 University Dr. College Station, TX Approx 17,370 sq ft located at the major intersection of Wellborn and University Owner/Broker We obtained the.
However, it’s uncommon for an unaffiliated ground lessor to agree to encumber its fee interest in connection with a loan made to a ground lessee. Lamont Richardson is a shareholder with the law firm of Parr Brown Gee & Loveless. He focuses his practice in the area of Commercial Finance and Real Estate. He can be reached at 801-257-7963 or at.
A ground lease or a ground rent is a type of commercial real estate lease where a lessee develops the real estate property he or she is renting. Like an ordinary lease, there are two parties involved – the lender or the landlord/real property owner, and the lessee or the tenant. The lessee is required to pay.
