Updated about 18 years ago on . Most recent reply
Ground rent- need advise
Greetings all,
Read many of your postings an information. Very usefull site!
I am about to sign a contract on my first REO purchase in CA : - ) Huggled $400k below asking price. Closing in 21 days.
On the contract agreement with the assest service company there is a clause for a ground rent which states" This property may be a subjec tfor a grond rent, the seller will no redeem the grounds"
Can anyone explain the ground rent clause and it's applicability in CA?
Many thanks.