Home Buying in Philadelphia>Question Details

Jamal, Home Buyer in Philadelphia, PA

Do homeowners in philly own the land that the house is on, and if not is there a ground rent?

Asked by Jamal, Philadelphia, PA Sun Jan 25, 2009

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Hi, Jamal,

WHen you purchase property in Philadelphia, it is usually called "fee simple" ownership. That means that you own the ground and whatever is built on the ground...the house, for example. Sometimes there are situations where people own a home, but lease the ground. Many times the lease has a 100 year run so that people don't have to feel that they will be thrown off the land. There is an area in Southampton, PA called Bryn Gweled Homesteads. No one owns the land, but they do own their homes. There is also a similar place in Philadelphia near Pennypack Park, but I don't remember the name of the development.

This situation also occurs in certain communities where there is manufactured housing. You own the unit but lease the ground.

If you have any other questions, please contact me.


Carol Murray Cei
ReMax Millennium
215-643-9661
carolcei@remax.net
1 vote Thank Flag Link Sun Jan 25, 2009
Hi Jamal,

When you buy a home, you do own the land unless otherwise specified in your title.

My question to you would be, why would you want to rent gound? Perhaps you can provide more details about what you are looking to do.

Thanks

Renee Porsia
Associate Broker
RE/MAX ACTION
(215) 669-0589 Direct
(215) 358-1100 Office Ask For Renee
http://www.reneeporsia.com
0 votes Thank Flag Link Sun Jan 25, 2009
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