Are Lake Martin lot leases standardized?
If so, where can I get a copy of the lease to preview? Yes in that most all leases on Lake Martin are with Alabama Power. A lease they did 15 years ago might differ very slightly from one they did 2 years ago, but for the most part are the same. Copies – I doubt they would send you an example but as a practical matter I can send you copies – 4 of my listings (see each linked here) are leased lots right now. I can email them to you. 2. Are the expiration terms on all properties the same or do they vary from lot to lot? The lease expiration and all other terms vary from lot to lot. Most of them are for 25 years or 30 years total. 3. How does the property tax work on waterfront lot leases? Alabama Power pays the property tax on the lot, and you pay on the improvements (house, dock, sea wall, etc). On Lake Martin, most of the value in any property is in the waterfront lot, so often the tax on the lot is greater than that on the improvements. 4. Are there any local lenders willing to do loa
