Anonymous
Not applicable

Deductions & credits

give us a little more info 

in whose name is the title to the house in?

in whose name is the title to the land in?

what is the relationship between the buyer and seller?

do you have the permission of the owner of the land to sell the house (should be spelled out in land lease?  

 

Hawaii and a few other states have another form of ownership known as leasehold.

LEASEHOLD: A leasehold interest is created when a fee simple land-owner (Lessor) enters into an agreement or contract called a ground lease with a person or entity (Lessee). A Lessee rents the land from the Lessor for the rights of use and enjoyment of the land much as one buys fee simple rights; however, the leasehold interest differs from the fee simple interest in several important respects. First, the buyer of leasehold real estate does not own the land; they only have a right to use the land for a pre-determined amount of time. Second, if leasehold real estate is transferred to a new owner, use of the land is limited to the remaining years covered by the original lease. At the end of the pre-determined period, the land may legally revert back to the Lessor, and is called reversion. At the end of the lease term many lessors and lessees have agreed on either a new lease or the Lessor may agree to sell the land to the Lessee. In the case of a condominium depending on the provisions of any surrender clause in the lease, the buildings and other improvements on the land may also revert to the lessor. Finally, the use, maintenance, and alteration of the leased premises are subject to any restrictions contained in the lease.

 

to give an example.   a shopping mall may own all the land.   a potential tenant may want to put up a store.  which they pay for and pay the mall to lease the land.   when the lease  is up, it can be renewed.  The other possibility is that the mall says remove the building which can be enforced.