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Site-built/Ground Lease Versus Manufactured Home/Leased Lot

Canopy MLS only allows listings of real property for sale, exchange or lease to be submitted to the service.

Site-built/ground lease: Canopy MLS allows listings of site-built construction on a leased lot (ground lease).  The North Carolina Real Estate Manual defines a ground lease and real estate as follows:

  • Ground Lease: a lease of land only that involves the separation of ownership of the land from ownership of the buildings and improvements on the land. 
  • Real Property: Lands, tenements, and hereditaments; the earth’s surface, the air above, the ground below and all improvements and appurtenances to the land; the rights, interests, and benefits (sometimes referred to as the “bundle of rights”) inherent in the ownership of real property.

In the case of a site-built/ground lease, the site-built home is an improvement and appurtenance to the land. Canopy MLS is aware of the following site-built/ground lease communities:  Gaston County Wildlife Club, some proprieties on Elks Park Road in York County, Duke Power leased lots on Kemp Road in Mooresville, and others.

Manufactured home/leased lot: A manufactured home constitutes “real property” if it is a residential structure and has the moving hitch, wheels, and axles removed and has been placed on a permanent foundation on land owned by the owner of the manufactured home NCGS 105-273(13).  Canopy MLS does not allow listings for the sale of manufactured homes on leased lots.

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  • 09-Jun-2020