Скачать или смотреть Pros and Cons of a Land Lease Agreement - Key Things You Must Know | HOMEiA.com

When you purchase a home, you usually buy the dwelling itself as well as the property it occupies. However, you might encounter another arrangement – purchasing the home and leasing the land.
In this Article, we will share with you the Pros and Cons of a Land Lease Agreement: https://homeia.com/buy-house/pros-and...

What is a land lease agreement?
Under a land lease agreement, which also is known as a ground lease, you buy a home or a building, but you rent the land from the landowner. A home buyer might see this scenario with condominiums, townhouses, manufactured homes, or trailer parks.

Sometimes the arrangement is explicitly stated in a real estate listing, and other times, it might be more subtle. A key phrase you might notice is “leasehold interest.”

A land lease agreement, which can range from 50 to 99 years, outlines rules and obligations for the lessee when it comes to the use of the land. The arrangement has some distinct advantages and disadvantages for the home buyer. It’s important that you understand both before you consider entering into this arrangement. We’ll also examine some of the other factors you need to know.


Related Articles:
1. How long does it take to buy a house: https://homeia.com/buy-house/how-long...
2. Main things to consider when buying a house: https://homeia.com/10-important-featu...
3. Understand the contract for deed: https://homeia.com/buy-a-house-unders...