GROUND LEASE FEE COLLECTION POLICY & PROCEDURE 12/15/18Ground Lease Agreement • September 13th, 2021
Contract Type FiledSeptember 13th, 2021The ground lease agreement between the Island Housing Trust (IHT) and the homeowner/ lessee states that in consideration of the possession, continued use, and occupancy of the leased land, the homeowner/ lessee will pay the Island Housing Trust a monthly ground lease fee. The following outlines IHT’s policy & procedures regarding ground lease fee collection.