Virginia Ground Lease with Lessee to Construct Improvements
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§ 55-248.. Schedule of interest rates on security deposits. A. The interest rate established by § 55-248. varies annually with the annual rate being equal to four percentage points below the Federal Reserve Board discount rate as of January 1 of each year. Section 55-248. - Schedule of interest rates on security deposits ... justia.com ? virginia ? title-55 ? chapter-13.2 justia.com ? virginia ? title-55 ? chapter-13.2
Virginia law requires tenants to provide their landlord with written notice at least 30 days prior to terminating their month-to-month agreement or at least 120 days prior notice for one with no end date. Virginia doesn't require tenants to provide written notice for fixed-end-date leases. Breaking a Lease in Richmond, Virginia ? Know the Laws keyrenterrichmond.com ? virginia-breaking-lease keyrenterrichmond.com ? virginia-breaking-lease
If the landlord willfully fails to deliver possession of the dwelling unit tothe tenant, rent abates until possession is delivered and the tenant may (i)terminate the rental agreement upon at least five days' written notice to thelandlord and upon termination, the landlord shall return all prepaid rent andsecurity ... 2006 Code of Virginia § 55-248.22 - Failure to deliver possession justia.com ? codes ? virginia ? toc5500000 justia.com ? codes ? virginia ? toc5500000
What summarizes the general terms of a land lease? The tenant leases the ground from the landlord and owns the improvements. Among the usual remedies available to the injured party if tenant or landlord defaults on the terms of a lease is the right to: Sue to compel performance of the contract.
In the event of a breach of the rental agreement or noncompliance by the tenant, the landlord shall be entitled to recover from the tenant the following, regardless of whether or not a lawsuit is filed or an order obtained from a court: (i) rent due and owing as contracted for in the rental agreement, (ii) other ... § 55-248.31. Noncompliance with rental agreement; monetary penalty ... justia.com ? virginia ? title-55 ? section-55-248 justia.com ? virginia ? title-55 ? section-55-248
The Virginia Residential Landlord and Tenant Act (VRLTA), Sections 55-248.2 through 55-248.40 of the Code of Virginia, establishes the rights and obligations of landlords and tenants in the Commonwealth. Only the courts can enforce those rights and responsibilities.
For example, many Macy's (M -3.28%) department stores are ground-leased. This means that Macy's owns the building itself and any other improvements made to the land -- say, parking structures -- but the company still pays rent on the land beneath the store.
A ground lease, sometimes called a land lease, is a contractual agreement between a landowner and a developer. In it, the developer agrees to pay the landowner a specified amount of rent in return for the right to develop one or more buildings on the property.