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Definition. Agreement between a landlord and a business outlining terms and conditions of property rental. A commercial lease is specific to renters using the property for business or other commercial purposes versus residential use. commercial lease is specific to renters using the property for business or other commercial purposes versus residential use.
What is Ground Lease. A ground lease is a long-term lease in which a tenant is permitted to develop a piece of property during the lease period, after which the land and all improvements are returned to the property owner. All the improvements made on the land will be owned by the property owner unless an exception is made in the agreement.