B1 properties, commonly referred to as collector passing properties, are sold to purchasers on a leasehold basis for a predetermined time frame that may last up to 99 years.
You must submit an application for the lease's renewal since you do not become the sole owner of the property after the lease time has ended. The decision to approve or reject the application is solely up to the collector. The buyer is required to pay a pre-set sum each time a lease is extended.
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What is the process to clear B1 property?
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2023-03-25T17:26:56+00:00 2023-04-17T01:54:08+00:00Comment
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