What is a ground lease?

A ground lease is a type of real estate transaction that involves the renting of land for business use in South Carolina. The tenant, or lessee, pays a fee to the landowner, or lessor, in exchange for the right to use the property. The ground lease typically has a long-term duration, such as for decades, and is most commonly used in commercial real estate transactions. In a South Carolina ground lease, the tenant is allowed to build on the property or use the land according to the provisions included in the lease contract. The tenant is responsible for the upkeep of the land or any buildings on the property, including taxes, insurance, and other costs associated with the leased property. The tenant typically pays a fixed annual fee to the lessor, which may include a percentage of any profits generated by the tenant from the land or buildings. When the lease terminates, the tenant does not have any legal right to the land or buildings. The tenant must remove any structures built on the property and may be required to return the land to its original condition. Although ground leases are a common real estate transaction in South Carolina, they are usually complex agreements that require the assistance of a qualified attorney who understands the laws regarding real estate in the state.

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What is a ground lease?

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