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What does Land Lease Expiration:0 mean? What effect does it have on the building built on top?

My friend is interested in knowing what it means because he is looking to buy a commercial property.  
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July 04 - US
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Answers (1)

Tony-that is really a question you need to put to an attorney. Before signing the contract,read it and understand what the terms mean. How long is the lease for, what does it include etc . When it expires do you have first dibs on renewing? How much can the lease go up at expiration etc. 
 Also, see if one of them can go over the contract with you. 
Use the services of a  commercial broker to help you through this
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July 05
 
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