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While some land lease communties may also have a HOA, the land lease or otherwise known as site rent, is a monthly fee that you pay to the Owners of the Community to have your manufactured home on their land and use of the ammunities.

A land lease can benefit both the landowner and the tenants and can be a great alternative to a more traditional lease. Most land leases range between 50 and 99 years and are passed down through families.

The property that is being leased to the lessee is known as the leasehold property. Many builders take the land on lease to develop their real estate projects. There are two ways in which a person can obtain leasehold properties.

A lease agreement is a contract allowing one party (the lessor) to take possession of property owned by another (the lessee). The lessor has an option to buy the property from the lessee at an agreed-upon price at some point in time during the lease term.

1. The parcel(s) contained in this agreement are is/described as follows: [parcel location, acreage, bounds, features, condition, etc.] 2. The term of this lease shall be from _______________ to _____________________ except as terminated earlier ing to the provisions below.

Disadvantages of a land lease In an HOA, residents may share in the cost of leasing the land, so you might have to pay significant fees as part of your lease. The cost of leasing the land can increase each time your lease is renewed. Unlike traditional homeowners, you'll build equity only on your home, not the land.

A land lease agreement is a written contract between two parties- lessor and lessee, in which the lessor grants the right to use a property to the lessee owned or managed by the lessor for a certain period in exchange for periodic rental payments. The lessee does not have ownership rights under the agreement.