Ohio Code 501.06 – Lands appropriated by congress for support of schools and ministerial purposes
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Lands appropriated by congress for the support of schools and ministerial purposes include the following:
Terms Used In Ohio Code 501.06
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(A) Lands on which the lease has expired or will expire after a period of time, not to exceed twenty years after January 1, 1970;
(B) Lands on which the lease is determined to be for a period of time as defined in division (A) of this section and where substantial improvements have been added to the expense of the lessee;
(C) Lands leased for ninety-nine years, renewable forever, or leases which have been renewed for a like term.