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My hubby and I are looking at our first house. Who can explain what a land lease is? Does that mean we own the house, but not the property it is on? Kinda like a condo? Any help is appreciated.
My hubby and I are looking at our first house. Who can explain what a land lease is? Does that mean we own the house, but not the property it is on?
**A: yes, you would basically be renting the land. When the lease is up you forfeit the house. If the lease is short, you will unable to get financing or may get a short term loan.
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Kinda like a condo? Any help is appreciated.
thanks!
**A: the concept is not like a condo.
What State are you in?
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