ground lease

ground lease
ground lease see lease

Merriam-Webster’s Dictionary of Law. . 1996.

ground lease
n.
A lease of vacant land with no buildings on it, usually rented in order to build structures such as office buildings or hotels on it; ground leases often run for many years and are renewable by the lessor.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


ground lease
USA
A long-term lease of unimproved land or previously improved land that requires the tenant to construct new improvements on the leased land.
A ground lease is almost always a net lease with a term usually ranging from 25 to 99 years. The tenant typically retains ownership of the improvements until the expiration or earlier termination of the ground lease. At the end of the ground lease term, the landlord will either:
• Take ownership of the improvements free and clear of all liens.
• Require the tenant to demolish the improvements and clear the leased land.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


ground lease
n. A lengthy lease of real property (often for 99 years).

Webster's New World Law Dictionary. . 2000.

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