To pilot a commercial airline, captains must obtain an airline transport pilot's license from the Federal Aviation Administration (FAA). Applicants for this license must be at least 23 years old. Pilots also must also meet flight time requirements, pass a written and flight exam and meet health standards.
2 A. Introduction 1. Characteristics of a Ground Lease Most commercial leases which real estate lawyers encounter involve the lease of space in a building for a period of years. A ground lease, however, is a much different form of lease whereby the tenant leases the land rather than a building.
An additional motivation is the fact that the improvements are depreciable, whereas land is a non-depreciable asset. Furthermore, ground rent paid by the tenant is deductible as an ordinary business expense. In other words, there are possible tax benefits for the tenant in a ground lease transaction.