ownership: What is Ground Rent? - 04/21/07 03:20 AM
I have had several of my clients ask me about this. Especially those that are relocating from out of the area.
Below I have provided some information that I have gathered over the past few years and pass on to my clients. Hopefully, this will help you as well.
What Is A Ground Rent?Ground Rents originated in Colonial America, to allow the colonists to own homes without paying for the land on which they lived. Ground Rents still exist in Maryland and various other areas around the nation.
In Maryland, the typical Ground Rent is a 99-year lease with an automatic renewal provision. With … (0 comments)