Property Management
In South Carolina, what is a 'ground lease'?
AA lease for agricultural land only
BA long-term lease of land only, where the tenant builds and owns the improvements✓ Correct
CA lease for the basement level of a commercial building
DA short-term lease for undeveloped land
Explanation
A ground lease is a long-term lease (often 50-99 years) of land only. The tenant has the right to build and own improvements on the land during the lease term.
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