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Erbbaurecht

Substantiv

partial

ground lease

noun

Definitions of ground lease

English

a long-term lease, especially one allowing for building work or improvements on existing buildings. Ground leases are granted in situations where the tenant wants to invest money in improving the land or property in a way that has been agreed with the ground lessor so that both parties may benefit from the investment. Unless otherwise agreed, all improvements will be owned by the ground lessor. A ground lease is often the subject of a sublease.

This lease is therefore actually a sublease and subject and subordinate to all of the terms and conditions of the Ground Lease.