{"id":179,"date":"2022-09-06T19:05:21","date_gmt":"2022-09-06T19:05:21","guid":{"rendered":"https:\/\/expansivemindsrealestate.com\/?page_id=179"},"modified":"2022-09-06T19:05:22","modified_gmt":"2022-09-06T19:05:22","slug":"people-ground-leases-can-help","status":"publish","type":"page","link":"https:\/\/expansivemindsrealestate.com\/?page_id=179","title":{"rendered":"People Ground Leases Can Help"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">People ground leases can help:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>People that want FHA financing&nbsp; &#8211;&nbsp; For an FHA Loan a buyer needs to get the price of a home to $441,000 or under \u2013 we can help<\/li><li>People who can\u2019t quite afford the home they want to buy \u2013 we can help<\/li><li>Buying any home&#8212; they get the discount and own and stay in their new house and so can their children (99 year lease)<\/li><li>Older people living in a home&#8212;-can get cash and own and stay in their home along with the next generation of their families (99 years lease)<\/li><li>People who just like a home we have purchased and are happy with the reduced price that we can offer due to the ground lease.<\/li><li>People who like an additional discount of $30,000 to $80,000 on a house they are buying<\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Arizona Leasehold Statutes<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"A\"><li><strong>Leasehold Tenure<\/strong><\/li><\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">Arizona real estate law is based upon English common law where this form of tenure has a long history.\u00a0 Under the common principles adopted in Arizona once a lease is assigned to a lessee, <strong>title to the improved building lot is divided into a present and future interest<\/strong>. These interests are described below:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><em>PRESENT INTEREST: As provided in the Arizona Revised Statutes, the lessee\u2019s present interest is an \u201cestate for years.\u201d <strong>ARS ESTATES \u00a733.201. It is an \u201cEstate in possession\u201d in which the lessee has \u201cimmediate right to possession of the land.\u201d ARS ESTATES \u00a733.203.<\/strong><\/em><\/li><li><strong>Future Interest<\/strong><strong>: As provided in the Arizona Revised Statutes, the lessor\u2019s future interest is the&nbsp; type of&nbsp; \u201cexpectancy\u201d classified as a&nbsp; \u201creversion\u201c &#8212; \u201cit is the residue of an estate left in a grantor [lessor]&nbsp; or his heirs, or in the heirs of a testator, commencing in possession upon the determination of a particular estate granted or devised.\u201d ARS ESTATES \u00a733.204.<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What Arizona law Means to you<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Under Arizona law when you buy a home that has a ground lease on it \u2013 you (The lessee) have an absolute right and title to the home and an absolute right to be on the land for the next 99 years. The lessor has no rights of ownership for the first 99 years except to collect the monthly leased fee rent.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People ground leases can help: People that want FHA financing&nbsp; &#8211;&nbsp; For an FHA Loan a buyer needs to get the price of a home to $441,000 or under \u2013 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-179","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/pages\/179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=179"}],"version-history":[{"count":1,"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/pages\/179\/revisions"}],"predecessor-version":[{"id":180,"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=\/wp\/v2\/pages\/179\/revisions\/180"}],"wp:attachment":[{"href":"https:\/\/expansivemindsrealestate.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}