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Old 04-07-2009, 12:51 AM
 
4 posts, read 12,925 times
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My family is looking to possibly buy a beach house at one of the Delaware beaches, but as we are not millionnaires, it will most likely be a mobile home. I have already read a lot of great info from some of the other threads regarding land leases, but I still have one question that I can't seem to find any information on: how long is the term of a land lease in most mobile home communities? Is it renewed every year, five years, ten years, etc?
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Old 04-09-2009, 12:07 PM
 
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There is no standard term for the lease . Each community may have different requirements. Many of them would be yearly ..that is to say the rent can change yearly. In Sussex county some locations like Lewes may have 99 year-leases which for all practical purposes is like being able to use the land for foreseeable future but not actually owning it.

I don't know if this helps you any .. but did not want to leave your query go unanswered any longer.
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Old 04-10-2009, 06:31 AM
 
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There is a whole topic on this subject named

"Land lease verses owning the land."

Hope this helps
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Old 04-13-2009, 07:32 PM
 
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Thank you both for the information. I really appreciate it!
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Old 04-19-2009, 10:24 PM
 
2,365 posts, read 11,129,919 times
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Quote:
Originally Posted by melissa.tate View Post
My family is looking to possibly buy a beach house at one of the Delaware beaches, but as we are not millionnaires, it will most likely be a mobile home. I have already read a lot of great info from some of the other threads regarding land leases, but I still have one question that I can't seem to find any information on: how long is the term of a land lease in most mobile home communities? Is it renewed every year, five years, ten years, etc?

It is really up to you and the property owner how long he/she entails the land with a lease, as long as there are no laws to the contrary.

But if it is considered a rental, then default rental terms are one month!

good luck!
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