The document defines a 'leased fee interest' which involves a 'contractual landlord-tenant relationship'.
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This document is page 4 of a property appraisal report for the IGY American Yacht Harbor Marina, dated December 15, 2015. It outlines the purpose of the appraisal, which was to determine the market value of the property's leased fee (going concern) interest as of November 25, 2015. The page also provides formal definitions for key real estate and business valuation terms, including 'Market value', 'Leased fee interest', 'Lease', and 'Going-Concern Premise', citing sources like the Code of Federal Regulations and the Appraisal Institute.
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