bobogoboom
Posts: 3799
Joined: 2/13/2006 From: Dallas Status: offline
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ORIGINAL: Speedy I currently own my apartment but we're planning to rent a house before buying towards the end of next year. I have to decide whether to rent or sell my flat. I could rent it for more than my mortgage = good BUT ther'es the hassle of renting it and maintaining the place + it's a leasehold property and there's only 60 years left on the lease. Leasehole property? That must be something British. It's also in the USA, but far more commonly found in commercial real estate applications. Instead of a 99 year lease (as used to be done on properties--Like the base at Guantamano Bay) , you will frequently see 20 year retail leases. "Buisness site, will build to suit ". Or "pad for lease". Very different from residential real estate. Since when do 'leases' have mortgages for the lessee? About 800 years , if I recall my English history correctly. And don't forget that American real estate law is based upon colonial real estate law, which was ...surprise! English real estate law. And there are all kinds of other weird real estate entaglements like lif estates (where you live on the property fot the rest of your life , but can't sell it, etc.....all kinds of weird stuff still on the books, but rarely used. ). Thank God. Usually only reseserected for Real estate Broker licence exams and by real estate lawyers with a strange thing for....well strange things, Wow... OK T, I'm sorry. It's been a heck of day , I'm tired and still working. I neglected to spell check . When I get tired I don't read so good and my dyslexia kicks in big time. Sorry. I'll try and do better. And at least it's not a "Bobo" award or a "Marky" award.
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I feel like I'm Han Solo, and you're Chewie, and she's Ben Kenobi, and we're in that bar. Member Texas Thread Mafia. Sig art by rogueusmc
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