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Plain Language Summary of CLT Ground Lease
As a durable, enforceable, recorded legal instrument, the CLT ground lease is a lengthy and complicated document. Consequently, many CLTs have found it beneficial to have a "plain language" summary of the ground lease available for prospective buyers of CLT homes. Such a summary can never take the place of the legal language contained in the ground lease, but it can be used in orientation sessions to introduce the lease to new members of a CLT board or to educate prospective buyers of CLT homes. Presented here is one example of such a plain language summary, prepared by Tim McKenzie in 2003, updating an earlier summary authored by Jeff Yegian.
Click here to download sample summary of ground lease
Posted by Mike Brown at August 3, 2005 01:27 PM
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