Memorandum of Ground Lease - Free Download
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Appendix C: Sample Memorandum of Lease 01/2011
Note: This sample “Memorandum of Lease” (which may also be called “Notice of Lease”
or “Short Form Lease”) is designed to be recorded as required by Section 14.12 of the
Model CLT Ground Lease.
MEMORANDUM OF GROUND LEASE
Between Mary Doe and Hometown CLT
This Memorandum Of Ground Lease (the “Memorandum”) is made and entered into
this ____ day of _____________, by and between Mary Doe, whose address is
___________________________________ (the “Homeowner”) and Hometown CLT, with
offices at _______________________ (the “CLT”).
WITNESSETH:
Hometown CLT is the owner of certain real property located in ______________ County, in
the state of ________, known as ________________________________, (the “Leased
Land”), more particularly described as follows:
(legal description)
Mary Doe is the owner of the house and other improvements (the “Home”) located on the
Leased Land and purchased the Home subject to the terms of an unrecorded Ground Lease
(the “Lease”) between Hometown CLT as the lessor and Mary Doe as the lessee, which
Ground Lease is dated __________________________ .
The provisions of the Lease include the following.
• The Lease commences on _______________________ and terminates on
___________________. The Lease is subject to a renewal for an additional period of 99
years.
• The Lease prohibits Homeowner from mortgaging the Home and Homeowner’s interest in
the Leased Land without the consent of the CLT.
• The Lease requires that, in the event the Homeowner intends to sell the Home,
Homeowner shall notify the CLT of such intent; and that, thereupon, the CLT shall have
the option to purchase the Home on the terms and conditions contained in the Lease. The
Home may not be conveyed to a third party without compliance with the terms of the
Lease.
• The Lease stipulates that the Homeowner’s interest in the Leased Land shall not be
assigned or subleased without the prior written consent of the CLT.
