A "ground lease" is another variation of a net lease. Under a ground lease, the landowner leases the land to the lessee which gives the lessee the opportunity to construct a building. The lessee will then have a leasehold interest in the property. Under a ground lease the tenant will typically pay for the same items they pay for under a Triple Net Lease or Bondable Lease. Generally, ownership of the building will revert to the landowner at conclusion of the lease
Triple net lease - NNN Lease
A triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "Nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.). In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area.
This form of lease is most frequently used for commercial freestanding buildings. However, it has also been used in single-family residential rental real estate properties.
Hope this clarifies - Todd McIndoo, Commercial Team, Daniel Gale Sotheby's International
Dec 16, 2014