Sacramento California Fee Mortgage Provisions from a Ground Lease

Name: Sacramento California Fee Mortgage Provisions from a Ground Lease
Brand: US Legal Forms
Rating: 4.64 (213 reviews)

Category:

Landlord Tenant - Commercial Leases

State:

Multi-State

County:

Sacramento

Control #:

US-OL20071

Format:

Instant download

Description

This office lease form states that the lessor represents to the lessee that the existing fee mortgage is the only mortgage encumbering the land and the demised premises. The lessor agrees to cause the holder of the existing fee mortgage to agree to certain provisions.

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FAQ

The benefits of a ground lease Ground leases allow landlords to retain control over their land while simultaneously receiving a steady income. If executed properly, they can be a win-win scenario for both parties. Land leasing also allows for flexibility and specialized financing mechanisms.

At a minimum, lenders will usually require that the term of the lease extend at least 10 years beyond the final maturity date of the loan. In order for a ground lease to be financeable, a lender will require that its mortgage be superior to any mortgages encumbering the fee title to the property.

With a land lease agreement (also known as a ground lease), you purchase the home but rent the land. One of the main advantages is the lower price of this unique arrangement. One of the main disadvantages is that you will not be able to build valuable equity in the land on which you live.

During the term of a ground lease, the tenant owns any improvements made to the property, including any buildings it constructs. For example, many Macy's (NYSE:M) department stores are ground-leased.

Ground Lease Estoppel means that certain estoppel certificate and agreement given by Fee Owner for the benefit of Lender and containing certain statements and agreements relating to the Ground Lease.

A ground lease is most often used in the following situations: (1) when the property is leased to a developer who subsequently will make multiple subsidiary leases; (2) when a governmental body, e.g., a town or county, clears land under an urban renewal program and leases the cleared land to a developer; (3) when a non

Disadvantages: Leased land homeownership runs a risk of instability. Leases need to be renewed on a monthly or yearly basis.The rate for land-leases can be expected to rise over time.It's difficult to build and maintain equity with a home on leased land.

Financial Advantages For a property owner, the major financial advantage is that they are able to gain access to a prime parcel of land without the upfront cost associated with a down payment on a land acquisition. The economics of leasing land instead of buying it can make for a very profitable investment.

The ground lease defines who owns the land, and who owns the building, and improvements on the property. Many landlords use ground leases as a way to retain ownership of their property for planning reasons, to avoid any capital gains, and to generate income and revenue.

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If the Addendum differs from an item in the rental lease, the Addendum takes precedence. The landlord does not fill out this form.The grantor(s) promise that they currently own the property and that there are no hidden liens or mortgages. I, Right of Landlord to Mortgage Fee. With a ground lease, the monthly expenses are fixed at the cost of the rent payment. The non-tribal member would receive a fee simple interest in the land. D. UNSUBORDINATED GROUND LEASES AND LENDER PROTECTION PROVISIONS . Want to know if a land lease, instead of buying a house, is a good idea? A "lease" allows a tenant a temporary exclusive right of occupancy (for example, an apartment). An absolute NNN ground lease on a commercial property applies only to the land.

Sacramento California Fee Mortgage Provisions from a Ground Lease

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What is the biggest advantage of a ground lease?

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