Real Estate Glossary Business Dictionary Definition Gross Lease Ground Lease

Site Last Updated
12 March 2010

"Just letting you know we have sold our business - Clever Cuts Hair Design, and could you please remove the advertisement from the web site. We are fortunate to have sold the business through your web site. Thank you for time, effort and advise. Cheers Julia Watkins"

Clever Cuts Hair Design
Auckland, New Zealand

"The above business has been sold, thanks to the Aorata web page. We handed over a couple of weeks ago and today have finished our obligations and best of all, received all the cash. We both wish to thank you for all advise and recommendations re the above, and ask that last question, please remove us from the 'FORSALE' section. Once again, many thanks and yes we have passed on and will continue to do so the benefits of Aorata. Cheers, Tony & Ann."

Counties Cycle & Model Centre
Pukekohe, New Zealand

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Real Estate / Business Glossary

"G" Dictionary Definition - What is a :

Government Valuation (GV)
See Rateable Valuation.

Gross Lease
A lease whereby the tenant pays a gross rent and the lessor pays out of that the operating expenses incurred through ownership. In such a lease the lessor bears the risk that the expenses may increase over the period of the lease.

Ground Lease
A ground lease is a specialist form of tenure in which the lessor (the fee simple owner of the land) grants occupancy of the underlying land to a lessee. The main feature that differentiates ground leases from conventional leases is that the lessee normally has the right to construct or upgrade buildings on the land. If the lessee does not renew the lease, the rights of the lessee revert to the lessor including all the improvements to the land with no compensation paid to the lessee.

Ground Rent
The annual fee a leaseholder pays a freeholder.

GST
Stands for Goods and Services Tax.