Austin Texas Commercial Ground Lease with Lessee to Construct Improvements and Option to Renew
Category:
State:
Multi-State
City:
Austin
Control #:
US-0135BG
Format:
Word;
Rich Text
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Description
Ground leases, sometimes called land leases, are a lease of land only. Usually land is leased for a relatively long period of time to a lessee that constructs a building on the property. Of course it is in the lessee’s best interest to have an option to purchase both the land and the building at the end of the term of the lease since ownership of the building will revert to the owner of the land at the end of the term of the lease.
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