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Kulia, Home Buyer in Honolulu, HI

Fee simple or leasehold?

Asked by Kulia, Honolulu, HI Fri Jan 9, 2009

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This question is about this property: http://www.trulia.com/property/1069681964-1833-Anapuni-St-10…

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Answers

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The property is Leasehold, with a payment of $417/month until 2019. The lease is up for renegotiation 1/7/2019 and expires 1/6/2029.

Just to give you some information on the differences...Fee Simple for the majority of people and situations are best. With Fee Simple you own the land and all improvements on it for as long as you own the property. In comparison with Leasehold, you own only the improvements (house) and the owner of the lease owns the land under you. Some leasehold properties give you the option of purchasing the lease and making the property Fee Simple. Another very important aspect of leasehold properties is that when your lease is up you no longer own the improvements and the lease holder takes ownership (unless you extend the lease and/or purchase the lease).

Please feel free to contact me with any question that you may have and if you need help finding a property.

Mahalo

Chris M.T. Bodden
http://www.BoddenRealEstate.com
1 vote Thank Flag Link Fri Jan 9, 2009
Excellent question. The listing doesn't state the tenure either way.
0 votes Thank Flag Link Sat Jan 10, 2009
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