Delaware, and the remainder of the unique British Colonies, has some land that’s leased quite than owned by the residents of that land. A lot of it’s not evident to the informal observer.
The land on Lewes Seaside is leased, not owned by the house house owners. The land of Lewes Seaside is owned by the City of Lewes. The lands of Rehoboth by the Sea and Dewey Seaside embrace leased land too. A lot of the leases on that land will NOT be renewed however will return to the house owners and the houses on high of that land will likely be eliminated by the house house owners at their expense. A lot of the land in Riverdale, on Indian River Bay, adjoining to Oak Orchard is leased as properly. In Riverdale the leased land is owned by Chief Clark of the Nanticoke Indians real estate company.
We now have about half the inhabitants of Sussex County residing on leased land; most of that leased land is present in what folks name cellular residence parks or communities. Nevertheless, in these communities there are seldom any houses which can be actually cellular and there are even two story stick constructed houses on among the leased lands in these communities. Condominiums and city homes are typically discovered on leased land as properly. Some people discover all this quite obscure.
We Realtors and Attorneys use the time period payment easy to explain land that’s being offered as actual property; that’s actual property. We used the time period leased land or leasehold curiosity to explain land that isn’t transferring as actual property.