Wait — Kim Kardashian Owns the Land and Kanye West Owns the House? Kim K owns the land and lots, but Kanye owns the house? Are Kim and Kanye ensnared in a land-lease situation? (As a reminder, a land lease is a property agreement in which one party owns the land on which a building sits and the other owns the building itself.) Post-divorce, if Kanye keeps the house, will he have to pay ground rent to Kim? Will the next owner, if they sell? We called up some Los Angeles real-estate experts to find out. “The Post article isn’t worded well, so it’s a little confusing — but I see three things that could be going on,” says real-estate lawyer Eric J. Proos. “One is that the property could be held in a living trust and Kanye has a life estate on the house itself — meaning that they could have set up a trust and put properties and assets in it. Two, Kim could own all the land that the house is on and Kanye could be paying her an undisclosed amount — they’re married, so it could be like a dollar a year — for refuge there. Or third, Kim could have bought the property and Kanye could have paid for [the building and renovation] on the house itself.”
