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Updated over 17 years ago,

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Ground rent- need advise

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Posted

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.

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