redeemable ground rents

Homeowners sometimes own their house, but must rent the land on which the house sits—called a ground lease.This is fairly common in Maryland and some other states. The homeowner may deduct redeemable rent paid for the ground lease, the same as mortgage interest,but only if

1. The ground lease, including renewal periods, is for more than 15 years.
2. The lease can be freely assigned.
3. The homeowner has a present or future right to end the lease and buy the land at a speci- fied price.
4. The lessor's interest in the land is primarily a security interest to protect the rental pay- ments to which he or she is entitled.

单词	redeemable ground rents
释义	redeemable ground rents redeemable ground rents Homeowners sometimes own their house, but must rent the land on which the house sits—called a ground lease.This is fairly common in Maryland and some other states. The homeowner may deduct redeemable rent paid for the ground lease, the same as mortgage interest,but only if 1. The ground lease, including renewal periods, is for more than 15 years. 2. The lease can be freely assigned. 3. The homeowner has a present or future right to end the lease and buy the land at a speci- fied price. 4. The lessor's interest in the land is primarily a security interest to protect the rental pay- ments to which he or she is entitled.
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