Ground Lease Agreement

Document Type

Microsoft Word (Editable)

Pages

Price: KES 400

Get Document Now

Professionally Drafted

Fully Customizable

12,000+ Happy Customers

Instant Delivery

Document Overview

A Ground Lease Agreement is a long-term lease contract where a landowner (Lessor) leases land to another person or company (Lessee) for a specific period, allowing the Lessee to develop, use, and profit from the land while ownership of the land remains with the Lessor.

Purposes:
1. To allow development without selling land.

2. To define rights and obligations of both Lessor and Lessee.

3. To generate long-term income for the landowner.

4. To enable investors to develop projects without buying land.

5. To regulate ownership and reversion of improvements after lease expiry.

6. To ensure legal protection and enforceability under Kenyan law.

Key Components of a Ground Lease Agreement:

- Parties – Lessor and Lessee details.

- Property Description – Land parcel number and location.

- Term – Lease duration (e.g., 20–99 years).

- Rent – Amount, payment schedule, and review clause.

- Purpose/Use – Permitted use of the land.

- Lessee’s Obligations – Development, maintenance, taxes, insurance.

- Lessor’s Obligations – Quiet possession and title assurance.

- Ownership of Improvements – Reversion to Lessor at expiry.

- Termination – Grounds and notice requirements.

- Dispute Resolution – Mediation or arbitration process.

- Governing Law – Kenyan laws applicable.

- Execution – Signatures and witnesses.

Document Preview Below
Purchase now to receive the complete document instantly.

Preview

End of Preview
Purchase now to access the complete document.

Ground Lease Agreement

Document Overview

Preview

Related Legal Documents