Property Ownership
What is a ground lease?
AA lease for agricultural land only
BA long-term lease of land only, where the tenant owns improvements✓ Correct
CA basement unit lease
DA lease for the lowest floor of a building
Explanation
A ground lease is a long-term lease (often 50-99 years) of land only. The tenant builds improvements and owns them during the lease term, but the land reverts to the landowner at lease expiration.
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