And just for some extra reading/defining, STRAIGHT FROM INVESTOPEDIA (full disclosure, I did not write this):
Definition of 'Ground Lease' - An agreement in which a tenant is permitted to develop a piece of property during the lease period, after which the land and all improvements are turned over to the property owner. A ground lease indicates that the improvements will be owned by the property owner unless an exception is created, and stipulates that all relevant taxes incurred during the lease period will be paid for by the tenant. Ground leases are typically for 10 years or more.
Aug 26, 2012