Property Types Explained - Revised Jan. 2020




Looking at lake places? Chances are you've noticed that some properties are advertised as deeded, while others may mention sublease or leasehold. And chances are you've wondered "what's the difference?" or "why are some one way and not the other?". If so, here is some information that may help you understand. Deeded means you are buying the dirt with whatever property you're looking at. For example, buying home on a deeded lot means you would own the land under the house (like most in-town residential purchases). It is important to note that deeded at PK may or may NOT apply to the entire surface of the land. Leasehold means you are buying the property, but will pay a lease fee to the owner of the land. Lease terms may vary in length and are available through a number of parties - not just the Brazos River Authority (BRA). Be sure you check on the renewability of the lease; some leases may not renew at the end of the current term. Sublease means you are buying the improvements on land that someone else has a leasehold to, and you will pay them a sublease fee for the portion of the land they allow you to use. At PK, this generally applies to the 'camps' - Fox Hollow, Rock Creek, Sky Camp, Lefty's, Golden Cove, etc. - there are many areas operated this way. Sublease fees are set by the camp owners, vary from camp to camp, and are mostly renewable on an annual basis at this time. This often effects the ability to get lender financing. If you are familiar with PK Lake, you are likely aware that the BRA sold the residential leaseholds to the Patterson PK Land Partnership several years ago. Many of those leaseholds have since become deeded properties. Therefore, you will see DEEDED as a well-used term on lake properties for sale these days. Other leasehold areas are currently going through, or have recently completed, the same process. Some of the deeds that were sold to PPKLP are still leasehold properties, as some homeowners selected to continue leasing for the remainder of their lease terms. The same type of process has now been completed for BRA Commercial Leaseholds (including camps). When an agreement was reached to execute the sale of commercial leaseholds, the number of PK subleases decreased as camp owners became the Leaseholders. It is important to note, though, that some commercial owners may still be finishing out the term of their current lease before purchasing their deed, so some areas could still be Subleases.  There are many things that you need to be educated about when considering a property purchase of any kind, and even more so when you are considering a property purchase in an area as diverse as Possum Kingdom Lake. Chances are, you will want some guidance....a visit with a REALTOR® may be a wise investment of your time! This article just touches on some of the issues that have been common questions I've encountered from folks shopping for property on PossumKingdomHub.com. Hopefully, the explanations will be helpful. If you'd like more details, research the BRA and Patterson Land Partnership websites, or feel free to contact me at [email protected]. See ya at PK!

revised: January 2020 - JLM




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Possum Kingdom Lake Current Weather Alerts

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Possum Kingdom Lake Weather Forecast

Monday

Slight Chance Thunderstorms

Hi: 86

Monday Night

Chance Thunderstorms

Lo: 66

Tuesday

Chance Thunderstorms

Hi: 84

Tuesday Night

Thunderstorms

Lo: 64

Wednesday

Thunderstorms

Hi: 80

Wednesday Night

Mostly Clear

Lo: 59

Thursday

Mostly Sunny

Hi: 86

Thursday Night

Chance Thunderstorms

Lo: 59


Possum Kingdom Lake Water Level (last 30 days)


Water Level on 4/28: 998.25 (-0.75)



Possum Kingdom Lake

Fishing Report from TPWD (Apr. 23)

FAIR. Water stained; 68 degrees; 0.32 feet below pool. Striper are slow suspending live bait 2 feet below a balloon or bobber fished in 5 feet or less water that is adjacent to the deep water. Other good places are deep ledges and main lake points. Sand bass are fair when you can find clear water with live shad or small white or silver slabs in 15-25 feet of water. Catfish are still fair to good on cut shad in 20-30 feet and 10-15 feet of water fished on the bottom. Baited holes are your best bet to catch numbers on punch bait. Bait with cattle cubes and wait 2-3 hours before fishing. Water clarity is steady at 1-8 feet of visibility and slightly stained, and near zero on the north end of the lake. Report by TJ Ranft, Ranft Guide Service.

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