what is a ground lease
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- 2 A. Introduction 1. Characteristics of a Ground Lease Most commercial leases which real estate lawyers encounter involve the lease of space in a building for a period of years. A ground lease, however, is a much different form of lease whereby the tenant leases the land rather than a building.
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Lease Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment.
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Definition of 'lease' lease. 1  a contract by which one party (landlord, or lessor) gives to another (tenant, or lessee) the use and possession of lands, buildings, property, etc. for a specified time and for fixed payments. 2  the period of time for which such a contract is in force: a two-year lease. 3  the property that is leased.
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lease lease. n. 1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. 2.
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Lease A lease contract is an agreement, usually written, between the owner of a property and a renter who desires to have temporary possession of the property. As a minimum, the agreement identifies the parties, the property, the term of the rental, and the amount of rent for the term.
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Definition of Land Lease A land lease--also called a ground lease--is a lease agreement that permits the tenant to use a piece of land owned by the landlord in exchange for rent. Land leases work very similarly to the way traditional property leases operate, and tenants can enter into both residential and commercial agreements. Most land leases are vacant, allowing the tenant to construct a temporary (or in some arrangements, permanent) structure at his own cost.
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- DEFINITION of 'Capital Lease'. A lease considered to have the economic characteristics of asset ownership. A capital lease would be considered a purchased asset for accounting purposes.An operating lease, on the other hand, would be handled as a true lease, or rental, for accounting purposes.The choice of lease classification will have important results on a firm's financial statements.n operating lease, on the other hand, would be handled as a true lease, or rental, for accounting purposes. The choice of lease classification will have important results on a firm's financial statements.
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Lease A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.he narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let or rented out by the owner. The verb to lease is less precise because it can refer to either of these actions.
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Leased Fee vs. Leasehold Under common law, improvements constructed by the lessee on the leased premises would revert to the landlord at termination of the leasehold estate. Many ground leases, however, specifically provide in the reversion clause for the right of the lessee to remove all improvements at the end of the lease term.
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- Capital Lease. A percentage lease is a lease where the rental is based on a percentage of the monthly or annual gross sales made on the premises, usually coupled with a base rent.ross Lease. A percentage lease is a lease where the rental is based on a percentage of the monthly or annual gross sales made on the premises, usually coupled with a base rent.
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- If your property is a leasehold property you’ll have to pay an annual charge, known as ground rent, to the person who owns the freehold. The solicitor who helped you purchase the property will be able to explain if the property is a leasehold or freehold property.
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- Definition of 'Operating Lease'. Definition: Operating lease is a contract wherein the owner, called the Lessor, permits the user, called the Lesse, to use of an asset for a particular period which is shorter than the economic life of the asset without any transfer of ownership rights.
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- Ground Bar-A bar, typically copper, that has been grounded and is used to provide a common connection point for other ground wires. Ground Bus-A ground wire or bar that serves the same purpose as a ground bar (see ‘Ground Bar’). Ground Grid/Ground Loop/Grounding Counterpoise-A ‘catch all’ phrase used to describe a system of grounding conductors, rods, piping system bonds, service grounds, and other specified metal objects with the intent of creating
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- A commercial lease is a binding contract which allows a tenant the right to use the landlord’s property for a business or commercial activity in exchange for rent.Additionally, the lease outlines the rights and responsibilities of the landlord and tenant during the lease term.enerally, a commercial lease covers the landlord and tenant information, which can include a guarantor; the rent; the duration of the lease term; and any pertinent information which constitutes as a term of the lease.
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Owning and Leasing Agricultural Real Estate A lease is a legally enforceable contract allowing the owner of real property, equipment, and/or livestock to convey the right to use that property to a person in exchange for rent. The lease defines the rights between the landlord and the tenant, and defines how the landlord/tenant relationship will operate.
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Femoral nerve In the thigh, the nerve lies in a groove between iliacus muscle and psoas major muscles, outside the femoral sheath, and lateral to the femoral artery. After a short course of about 4 cm in the thigh, the nerve is divided into anterior and posterior divisions, separated by lateral femoral circumflex artery.
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- rental and leasing of equipment are primary to NAICS 522220, Sales Financing. A lease, on the. other hand, is essentially a rental agreement, which allows the end-user (lessee) only the use of. the equipment for a specified period of time.
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What Is a Subordinated Ground Lease? In a subordinated ground lease, the landowner offers the title to the land as collateral for the developer's construction loan. This gives the landowner a significant stake in the project, since a loan default by the developer could result in losing title to the land.
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Net Lease Definitions Lease definitions are as follows: Gross Lease: The tenant pays a set sum or “gross” amount for rent and the landlord pays all real estate expenses. Net Lease: Generally a lease in which the tenant pays for utilities, and property taxes in addition to rent or insurance. The landlord pays for maintenance, repairs, and the property taxes or insurance not paid by the tenant. Also referred to as a single net lease or modified gross lease.
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Landowner's Guide to Oil & Gas Leasing A lease is a legal document or contract between a landowner (lessor) and a company or individual (lessee) granting exploration and development rights to subsurface oil and gas deposits. Companies will usually present you with a preprinted or standard lease.
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- Base rent is the amount of money you pay to lease your space and it is specified in your lease. It is generally stated as a whole dollar amount (e.g. $30,000 per annum) or as dollars per square foot (e.g. 1,500 square feet at a rate of $20.00 per square foot).or example, if a building is 100,000 square feet and you occupy 1,500 square feet, your proportionate share is 1.5%. That means you will pay 1.5% of the total operating and tax bill for the building as additional rent. The language in your lease will read something like this:
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DEFINITION of 'Land Lease Option' DEFINITION of 'Land Lease Option'. An option within a lease contract that grants the lessee the right to extend the period of the lease beyond the original length of time.Usually, the lessee is required to pay a premium for the option, such as a small amount of money in each year of the original lease.n option within a lease contract that grants the lessee the right to extend the period of the lease beyond the original length of time. Usually, the lessee is required to pay a premium for the option, such as a small amount of money in each year of the original lease.
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What Are Common Area Maintenance Charges In A Commercial Lease? Most commercial retail leases are triple net leases. What this means is that the landlord passes through all expenses to the tenants on a pro-rata basis. These expenses typically include taxes and common area maintenance charges (known as CAM charges). CAM charges in a commercial lease are typically added on to base rent as additional rent.
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Lease Term of Over 10 years If you are looking to enter an extended lease term it is worth mentioning the possibility of a ground lease. A ground lease is a long-term lease of land, usually for 99 years, where the tenant owns the buildings and improvements.
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What Is a Subordinated Ground Lease? A business owner gains several advantages from a subordinated ground lease. When you lease land rather than buy it, you need less money upfront. Your rent payments are fully tax deductible as a business expense; when you buy land, by contrast, only the interest is deductible.
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Leases A lease is a contract between two parties for the use of goods or land for a term in return for some form of “consideration” (i.e., payment – anything of value, whether it be money, some services, a promise of some future action, etc.). lease is a contract between two parties for the use of goods or land for a term in return for some form of “consideration” (i.e., payment – anything of value, whether it be money, some services, a promise of some future action, etc.).