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What is an Access Residential Lease on Lake Sinclair?
Ooops, is really what it is, but hey it happens.  Well actually it really doesn't happen anymore except on rare lots where the fee simple portion isn't large enough to build a home on, but it did happen quite a few times and this type of ownership exists and we have to deal with it.
You'll need to go back and read my detailed explanation of "strip lease lots" to really understand what a Residential Access lease is on Lake Sinclair.  That's because this ownership is a strip lease lot where the dwelling encroaches on the part of the land owned by Georgia Power.
In my example the right the part of the plat that is #1 is fee simple, the part that is #2 is leased from Georgia Power. The part where the red X is a structure on the land that is owned by and leased from Georgia power. When this occurred in the past without permits then what used to be a strip lease is now an access residential lease.Rates are vastly different for this type of lease although at this time there is no transfer fee for this type of lease.
The leases are 15 year terms and if the property sells ... more

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