Life Lease - What is it?
A life lease, a rarely used instrument these days for tenancy, typically involves an older individual or couple who acquire the right to occupy a unit, usually a condominium, until they die or decide to vacate. They pay the owner a ...
Single Up-Front Payment
It's essentially paying rent in advance by way of a balloon payment in a negotiated amount calculated as a percentage of the market value of the property. They would also normally be responsible for paying a modest monthly fee towards the management and maintenance of the property.
A Life Lease ...
... usually appeals to senior adults since
it allows older homeowners the opportunity to move from impractically
large family homes into smaller, more affordable and easily maintained housing using their
life-long accumulated home equity.
Such residents are granted a leasehold interest in the property by way
of a negotiated contract and are not considered owners or tenants. In
addition to the right to occupy their apartment, they can typically also use
various common areas and facilities.
Click here to review our privacy policy and disclaimer
Paying too much to insure your house, car or truck? Click the appropriate link below for a free quote
A guide to help home owners sell privately, or find a good agent
For E-Book
For Amazon Print or Kindle
Finding Harmony with a Thriving Realty Career
and an Enriched Personal Life
For e-book, click:
For print book, click:
Training 101 completed? Here’s Class 102
A must-read for anyone contemplating a realty career and the perfect antidote for agents seeking a more productive, less stressful direction for their own realty business.
It’s also designed as an insightful resource for home buyers and sellers curious about the ins and outs of buying and selling real estate.
"An inspiring and candid tale of one man's journey to success as a real estate agent and achieving inner freedom. This book is sure to ignite the passion and holds the key to unlocking the power that lies within us all." Gina Ceci, Real Estate Lawyer