A "leased lot" refers to a piece of land that is rented or leased by an individual or company for a specific period of time. The person or business does not own the land but has the right to use it during the lease agreement. Full definition
Most of our clients live in leased lot communities where lot rent is a factor. (chattelmortgage.net)
The majority of our customers live in manufactured home parks or in leased lot communities. (chattelmortgage.net)
Normally, all occupants over the age of 18 that plan to live in a mobile home park or leased lot manufactured home community, must pass both a credit and criminal background check. (chattelmortgage.net)