What does Ground Lease mean?

A ground lease is a type of lease agreement in which a landowner (the lessor) leases a piece of land to another party (the lessee) for a specific period of time. The lessee can then build and use the land as they see fit, but they do not have full ownership of the land and must return it to the lessor at the end of the lease term. This type of lease is common when a landowner wants to generate income from a property without giving up ownership.

Related Terms

Mechanical Systems Commission On a Listing Agreement Days On The Market Federal Home Loan Mortgage Corporation, Law Repayment Plan Low Density Personal Property Log Cabin High-Rise Original Principal Balance Neo-Traditional Planning Loan-To-Value-Ratio (LTV) Late Charge Return on Investment Depreciation Boilerplate Low-Down-Payment Loan Tenants In Common