quote:
Originally posted by Bassamatic:
If you are talking about a claim of adverse possession by them there is no way that could happen with a recorded lease present. I would think that would be the least of your worries.
If these leases are in fact 25 years, that is a long time. They will reserve rights to access the property for maintenance or repair...at their discretion and whenever they feel like it. Also, that lease would have priority over a future Loan that you might want down the road. A bank won't go for that and I seriously doubt that the Lessee would subordinate their lease to any Deed of Trust. Any future sale of that property would obviously be subject to the lease.
Man, unless you really need that rent money, I would avoid this like the plague.
Well, its not my property. Its location is among much land for sale. He has owned it for near 2 decades and never did anything with it. His daughter has encourged him to sell it. I dont feel he will live long enough to get his asking price.
