ground lease

Definition of "ground lease"
  1. A type of lease that typically lasts for a long duration, where the tenant pays rent for the land and agrees to construct or enhance a building on it. It is sometimes referred to as a building lease
How to use "ground lease" in a sentence
  1. The company entered into a ground lease with the city in which it agreed to erect a new office building.
  2. In a ground lease arrangement, the tenant built a shopping center on the rented property.
  3. The ground lease allowed the commercial tenant to develop the vacant land and make it profitable.

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