Property ownership - FS or Leasehold
Thursday, July 01, 2010
What is the difference between leasehold and fee simple ownership on Maui?
Fee simple ownership is the type that people are most familiar with. You own a portion of your condiminium and piece of the entire complex, including the common area in the grounds. It is just like the home you may own on the mainland.
Leasehold is a type of ownership where you own the condominium but you are on "long term" or ground lease for the land beneath it. These lease terms run anywhere from 50 - 99 years. Leasehold condominums are about 20 to 20% less expensive than Fee Simple condominiums because there is more uncertainty for the long term and they are considered differently when financing
