Lifetime lease
A lot lease meant to last for the resident's lifetime; often not freely transferable to a buyer, which can affect selling a home in place.
Published May 31, 2026
A lifetime lease is a lot rental agreement intended to last for the duration of the resident's lifetime, rather than for a fixed term that expires on a set date.
For a long-term resident, a lifetime lease can provide stability. But it can complicate a sale of the home in place. In some states, the special benefits of a lifetime lease are not automatically assumable by a buyer — meaning a buyer who takes over the home may not inherit the lifetime terms unless the agreement says so or the buyer is the homeowner's spouse. That contrasts with an ordinary fixed-term lease, where a qualifying buyer can often assume the remainder of the term.
Because of this, the type of lease a resident holds is worth understanding before selling. A lifetime lease and an automatically renewable lease are the two forms that most often carry transfer restrictions.
The specifics depend on state law and the agreement itself. This is general information, not legal advice.