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.
Nebraska Fee Mortgage Provisions from a Ground Lease
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In 1921 the state legislature passed a law barring noncitizens from owning rural land or leasing it longer than five years. Because Japanese immigrants could not become U.S. citizens until 1952, the law effectively barred the ?Issei? (first generation Japanese) from owning farms.
The landowner gains a steady stream of income from the tenant while retaining ownership of the property. A ground lease typically contains an escalation clause that guarantees increases in rent and eviction rights that provide protection in case of default on rent or other expenses.
The purchaser may also utilize this contract as an offering to which the seller can either accept, counter or reject. The parties will execute the contract and schedule a closing date upon reaching mutual terms. The seller will sign the deed to the new owner at closing, thus completing the transaction.
Nebraska prohibits foreign corporations or individuals from buying land or holding a lease of more than five years in the state and has a law requiring reports to the secretary of state if there is corporate interest in farmland.
Ground leases are used in commercial real estate. The real estate developer leases the land from the tenant for a period of up to 99 years. The developer makes improvements and at the end of the lease term, the improvements become property of the landowner.
Ground lease. a lease of land on which the tenant owns a building or is required to build. these are usually long term net leases. lease. a contract between an owner(lessor) of real estate and a tenant(lessee)
Ground leases are used in commercial real estate. The real estate developer leases the land from the tenant for a period of up to 99 years. The developer makes improvements and at the end of the lease term, the improvements become property of the landowner.
A land lease, also known as a ground lease, is an arrangement in which a landowner (the lessor, in legal terminology) rents out the land to a tenant (or the lessee).
