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What Is a Ground Lease?
A ground lease is an agreement that permits a renter to develop a piece of residential or commercial property during the duration of the lease. After the lease duration, the land and all enhancements the renter makes go back to the residential or commercial property owner. Ground leases may also be referred to as land leases because the property manager is renting out just the land.
Ground leases ought to include the following vital aspects:
- Default conditions
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