Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations

Delaware, and the rest of the original British colonies, are a land that is leased rather than owned by the citizens of that country. A large part of it is not clear to the casual observer.

The land on Lewes Beach is leased, not owned by the owners. The country of Lewes Beach is owned by the town of Lewes. The lands of Rehoboth Beach and Dewey Wed include leased land too. Most leases of this land will not be renewed but will return to owners and residences on top of the soil will be removed by the owners at their expense. Most land in Riverdale, on Indian River Bay, adjacent to Oak Orchard and leased. In Riverdale the leased land is owned by Chief Clark of the Nanticoke Indians.

We have about half the residents of Sussex County living on leased land, most of the leased land is what people call the mobile home parks or communities. But in these communities, there are rarely any houses that are truly mobile and there are even two story stick houses built on a portion of leased land in these communities. Condos and townhouses are sometimes found on leased land as well. Some people find all this difficult to understand.

We receive and lawyers use the term fee simple to describe the land, which sold the property, which is immobile. We used the term leased land or leasehold interest to describe a country that does not move real estate. Read the rest of this entry »