"Owning" and "Renting Property/House

Dear Sir,

I have a question relating to a property law: Is it possible to 'rent' a property and at the same time 'own' a house (or whatever buildings on the property) in the US (or in any major developed countries)?

I got into a debate with my friend who claims that as long as you own a property, whatever on it is to be within your ownership such as a house. I on the other hand claimed that there must be a way wherein one can rent a property and still own a house by a contract.

My claim is based upon the fact that - I have heard that people in France often rent property while owing their dwellings.

How does it work in the US? Any useful comment with legitimate source(s) is appriciated.
kind regards,

 

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Not completely true. It's possible to own the land and rent/lease it to someone else to build a house, but that won't automatically make the house your's. Large commercial enterprizes often do that, but the legalities are very complicated and generally too much for the individual.

The contract to rent/lease would have to stipulate what the limitations are on the land for the landowner and the disposition of the improvement (house) in the event the rent/lease contract terminates normally or is prematurely terminated by one or the other parties. If the rent/lease contract terminates under conditions other than friendly, expect all sorts of legal problems. You can GOOGLE up all sorts of references on real estate law.

IMHO, it's really a dumb thing to do if you're talking about a private residence if the rented land extends beyond the foundation of the residence.

 

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Fragle Rocker:

I think you are referring to a form of apartment. This is not the situation in question.

This one is not the situation either.

Marv:

Yes, this is precesely the answer I was seeking.

Though my research via google has not been too successful: Hence I started the thread.

Anyway, Thanks you Fragle Rocker and Marv.

 

Fragle Rocker:

Indeed, after reading my question, it didn't make sense. Anyway, my question is:

Is it possible to leagally own a house while renting the land on which a house is built?

So far, Marv has suggested that it can be done with leagal complications. Nevertheless, it is possible.

Does anyone corresponding laws?
thanks,

 

In Canada it is.

We have a place outside of Calgary called 'Bragg Creek'. The land is owned by natives, but rented out to the developers. In about 40 years time, the natives will once again be in control of the land (and whatever's on it.)

 

Some thoughts:

• Large downtown office buildings often sit on un-owned land. Sidewalks and service alleys are usually public property, but water, electric and sewer service lines up to the office building would be owned/controlled by the municipality or utility company. Operation of the office building would be a maze of permits, contracts, assignment of legal liabilities, access, etc.
• Xerxes describes a situation involving disposition of a structure after a lease terminates. Bragg Creek better hope to make their profit before the structure is turned over to the natives.
• Owning a private residence where the land extends beyond the foundation of the residence can be tricky. What happens if the land owner decides to dig a ditch on his land - right through the only access to your house? Bragg Creek probably has a well written contract and a bevy of high paid lawyers looking after their interests.

​

 

Owning the home while renting the land is standard practice in Mobilehome/ Trailer Parks.

 

Its standard practice in UK, its called leasehold. There are virtually no legal complications here, but it may be different elsewhere.

There is also the only recently introduced commonhold, which other countries have had for a century or so.

Lava

 

Both the situation or possible but some time the laws don't allow you to have both the properties but that laws are implemented in some state.But mostly you can own both properties at same time.I think you must ask a solicitor in that state where you want to rent a property.

 

Lava,

It's a little different from UK to US.

In the UK building a fixed property requires planning permission from the Local Council which would likely be the point that any concerns over what could be built is often subject to (if not already applied in writing within any agreements)

In the US to my knowledge there is no Federal planning system, so it's left to each State to enact their own (should they undertake that).
In the case of building a property outside of a City limits (in the countryside) in GA, the only thing that needs to be looked at is the cesspit since this is used to work out the number of people that can live there and of course be taxed by the state.

Most "houses" in that particular state are single/double wide's that are transported to the property (made from wood, aluminium etc), which some people can brick-in. If you were renting such a piece of land, then I would look at the rental agreement in regards to "fixtures", since building a house on a rented property might well be possible however the owners of the land might want you to remove it on cessation of your lease, they could also give you however many weeks to find new digs and vacate the property, taking whatever is spent on building a house. (The house would potentially be classed as a fixture, if the agreement is that fixtures should be left, you'd lose your entire house)

If you are referring to building a plot inside a cities limits, then there will likely be planning control in effect, since a city usually has utilities like piped water, centralised sewerage treatment, gas, cable etc.

In all cases the situation is "Check your rental/lease agreements small print" since that is the agreement you've made with who owns the property, and should you want to build, "written permission of the owner" is something that should be sort, as without it, they'll have you over a barrel.

 

for general law quires
For Property Settlements in Gold Coast region,catch us here

 

Due to property taxes, all land is technically rented from the state, while being owned.

 

The answer to the OP is pretty clear. It is possible in the US to own a building separate and apart from owning the land. It is also possible to sell certain property rights (e.g. mineral and water rights) without selling the land.

Selling the building and renting is not the norm (mobile home parks excepted). However, you sometimes see that kind of arrangement in complex business financing deals with sophisticated financiers and debtors. Property rights fall in the purview of state law rather than federal law. The Uniform Commercial Code, which is the applicable code, applies to almost all states. Louisiana, because of its French and Spanish history, tends to be a little different with respect to the commercial code.

Zoning is usually a municipal and county affair. Building construction is generally a combination of state, county, and municipal regulation and sometimes federal regulation (e.g. Environmental Protection Agency, Americans with Disability Act, etc.).

 

Hi,
How to buy or acquire the assets of a dissolved company - how and when you can claim money or property, who to contact and the forms you need.....

 

The answer is contingent on the country and type of asset and why the company was dissolved.

 

You can't buy the assets of a dissolved company (i.e. while it is dissolved) in the UK. For a company to be dissolved it can not be trading, and can not buy or sell assets to recognise value.

In the UK: when a company has been dissolved, any assets remaining become property of the crown, and the company must be restored before it can start trading again.
After restoration the company is no longer deemed to be dissolved.
But while dissolved the company can not sell its assets.

That is why dissolution usually only happens once all the assets have been sold off.
Dissolution is usually the last step to closing a business down permanently.
But, as said, it can be restored at a later date.
(There are various forms that need to be completed for dissolution and for restoration.)


This differs to merely a dormant company that has not traded for a certain period, but is able to resume trading whenever they wish.


Are you perhaps enquiring about a company that is merely going through insolvency and/or administration?
If so then you would need to talk to the administrators about the possibility of purchasing assets.


Bear in mind this is an internet forum and no advice here will constitute professional advice (i.e. take this as a disclaimer for any info you might get).

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Think about foreclosure , and there is title of ownership which is registrated with with a county or state. So you are buying the title from who ever is the owner . Then you have to be sure if title is cleat from any lien because if there is a lien , The lien have to be cleared out meaning it have to be paid off. by the buyer or the seller, depend on the agreement .

 

In the UK: when a company has been dissolved, any assets remaining become property of the crown, and the company must be restored before it can start trading again.