Property Management
A NC 'ground lease' is a commercial arrangement where:
AThe tenant leases the building but not the land
BThe tenant leases the land only, typically builds improvements, and returns the land and improvements to the owner at lease end✓ Correct
CThe owner leases the foundation rights only
DThe tenant shares ownership of the ground floor with the owner
Explanation
A ground lease grants the tenant long-term rights to use the land; the tenant typically constructs improvements on the land. At lease end, the improvements revert to the landowner.
Related North Carolina Property Management Questions
- A NC commercial lease with a 'personal guarantee' requires:
- Under the NC Tenant Security Deposit Act, a landlord may deduct from a security deposit for:
- Under NC law, a property manager must keep security deposits in:
- Which type of lease provides the most protection to the tenant against rent increases?
- The 'net operating income' (NOI) for a property management report excludes:
- In North Carolina, a property manager who collects rent and manages property for others must hold:
- An 'index lease' in commercial real estate ties rent increases to:
- A property management agreement in NC should specify:
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