Property Ownership
In NJ, a 'ground lease' is a type of lease where:
AThe tenant rents space in a basement or ground floor only
BThe landowner leases the land to a tenant who constructs and owns improvements on the land, with the improvements reverting to the landowner at lease expiration✓ Correct
CAgricultural land is leased at ground-level rates
DThe government leases land for one year
Explanation
A ground lease is a long-term lease (often 50–99 years) of land only. The tenant builds and operates improvements at their expense; at lease end, the improvements typically revert to the landowner. Common in commercial real estate.
Related New Jersey Property Ownership Questions
- A prescriptive easement is acquired through:
- A NJ homeowner who believes their property tax assessment is too high may appeal to the:
- New Jersey's Farmland Assessment Act allows agricultural land to be assessed at:
- In New Jersey, property taxes are assessed by:
- A 'tenancy in common' in NJ differs from a 'joint tenancy' primarily because:
- In NJ, a 'certificate of title' (as opposed to a title insurance policy) provides:
- In NJ, a 'conservation restriction' placed in a deed by a nonprofit organization:
- In NJ, a 'satisfaction of mortgage' is recorded to:
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →