HUD Handbook 4000.1 II.D.7.a: Definitions

Document
HUD Handbook 4000.1, FHA Single Family Housing Policy Handbook
Section date
Version in Zeitro Strata
Where
page 880 of 1872

Page 880

a. Definitions (09/14/2015)

Leasehold Interest refers to real estate where the residential improvements are located on land that is subject to long-term lease from the underlying fee owner, creating a divided estate in the Property.

Ground Rent refers to the rent paid for the right to use and occupy the land. Improvements made by the ground lessee typically revert to the ground lessor at the end of the lease term.

Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.