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What’s a fee land?
A fee land is a form of freehold ownership where real estate and land can be owned in common law countries. When it comes to the fee land owner’s rights, we need to know that they are limited by government powers as well as by certain encumbrances or conditions in the deed.
What’s a lease land?
A lease land allows you to use a piece of land owned by the landlord in exchange for rent. We see often land leases being used for commercial purposes, as they are usually vacant and the tenant can build a structure that will stay temporarily or permanently.
Lease Land vs. Fee Land
The main difference between buying land and leasing is that by going with leasing you reduce the cost of a home compared to a Fee Land, which you own. So, by owning on leased land, the homeowner gets the use of the land without spending a certain amount of capital, which will allow to afford a larger home for less money.
However, keep in mind that you won’t technically own a home until the loan is paid off.
Good luck, and I hope you enjoy your new home for many years to come.
So that’s all for today, hope you found this article useful so far and don’t hesitate in reaching me out if you have any questions or need a consultation.