Ground Rent Redemption

Service Description

Leasehold properties exist primarily in Maryland and Virginia (yet still rarely in DC) and ownership of a property in Leasehold means that the owner only possesses title or ownership of the house, but not the land the house is located on... and the homeowner pays (or should pay) a Ground Rent to the Leaseholder. This is usually a small amount of money, payable semi-annually. Failure to pay Ground Rent gives the Leaseholder the right to foreclose. Besides presenting a nuisance, not owning the land the house sits on reduces the value of the property and you can cause delays when want to refinance or sell your home. Every State has a legal process by which a property owner may 'Redeem' (pay off) Ground Rent, even if they don't know who holds their Lease, and convert their ownership from Leasehold to Fee Simple, that is: full ownership of both the land and the home. Abode is here to manage the process step by step to completion!