Definition
A long-term lease of land on which the tenant constructs and owns improvements.
Example
The 75-year ground lease reverted the improvements to the landowner at expiration.
Related terms
Frequently asked questions
What does Ground Lease mean in real estate?
A long-term lease of land on which the tenant constructs and owns improvements.
How is Ground Lease used in practice?
The 75-year ground lease reverted the improvements to the landowner at expiration.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.