Been reading my old hangar purchase documents. When I purchased my new airplane hangar back in 2000, it appears that neither the City of Bend nor my hangar developer disclosed to me that the hangar ground lease would NOT be extended beyond the initial offering of 20 years with two ten year extensions.
Doesn’t the City of Bend have a duty to disclose that to a potential ground lease holder?
Nor have I received any WRITTEN notification from the City of Bend that they were not going to extend my hangar ground lease beyond the initial offering.
Yes, I now see that the hangar ground lease has a reversion clause. But it appears that most hangar ground leases have that clause, whether or not the owner of the land has a policy of extending the ground lease or not.