Why this matters here
Los Angeles County developed the Marina del Rey harbor and still owns much of the waterfront land. Many buildings were developed on that land under long-term ground leases. Some residential properties are sold as leasehold interests, while others nearby are fee simple.
The difference in plain English
- Fee simple: you own your home and, through the property, a share of the land, with no ground lease expiring.
- Leasehold: you own your home for the remaining term of a ground lease. Owners may pay ground rent in addition to the mortgage, taxes and HOA dues.
What to check before you buy
- Ask in writing whether the property is fee simple or leasehold.
- Find out when the ground lease expires and compare the remaining term to your loan term. Many lenders require the lease to run well beyond the loan.
- Confirm early that your lender will finance a leasehold unit in that specific building.
- Ask how ground rent is paid, whether through the HOA or separately, and whether any rent adjustments are scheduled.
- Request the recorded ground lease and amendments, plus HOA budgets and reserve studies, and review them with your advisors.
- Consider resale: the remaining lease term affects future buyers too.
If you are selling
Clear, organized lease and HOA documents help buyers and lenders move faster. I help sellers present that information upfront so the right buyers can say yes with confidence.
How I help
I will help you understand the trade-offs, ask the right questions early, and compare options side by side. This guide is general information, not legal or financial advice.