Palm Springs Lease Land property - loss or gain? (real estate, leases)

[digimaks]

Hi everyone! How is everybody doing?
Here is my situation I want to have some good insight/advice.
I am 27 yrs old and I bought my first home here in Palm Springs in Nov 2011. Working like insane. So far so good, I'm 50% done with my mortgage. House is in 200k range. The monthly lease land fee is $134 per month, which isn't bad at all, even when adding it together with annual property tax, in comparison to FEE land and property taxes. The lease has 28 year lifetime.
My neighbor has 24 years lease lifetime. And she says she plan to offer the indians to purchase that lot when it expires.
Now I am thinking for the future, what should I do with my house later on. Would they extend the lease with the same terms when it expires? Or (based on some discussions) the BIA/indians will ask for ridiculous terms? I know on my agreement it states, that the lease land fee is subject to increase after expiration, but shall not exceed 200% of original price - in other words no higher then $134 X2, which is $268, which already exist in other parts of Palm Springs.)
I really want to keep the house later on in my life when I will marry and have a family. I just want to make sure there are no "land mines" like stinky renewal trick at the end of the term and take my house.
Or I better off selling it the soonest while someone will be able to buy it with 25 year mortgage term? I know the housing market is crap, and didn't get any better (in fact worse).
I mean after the lease land increase to $268 which will be bearable to buyer, Selling it for the same price or with slight increase would be possible?

Like I said - I want to keep the house for now.

Any insight, advice, comment will be appreciated!
Thank You!
Maks

[MamaRed]

Here is a link from a local realtor addressing Lease vs. Fee land. Palm Springs Lease Land vs. Fee Land

The lease land here is set up in 1 mile square sections. I haven't heard of anybody being able to buy out their lease because that would break up the section. I think it would be worthwhile to consult with a real estate attorney. Unfortunately, I'm afraid the people involved with selling the home (realtor/mortgage/seller) would gloss over your questions. It would be very easy for everyone to tell you they "don't know, but don't worry" about the long term lease issues. I wasn't able to find the local news articles, but there was something in the last year or so about people's leases being increased when they weren't expecting it.

It was explained to me once that the land was originally leased for 100 years. My family has been here nearly 40 years, so people buying lease land at that time didn't have to worry about their lease running out. (My parents still bought fee land) Those leases are all now coming up on expiring within the next 25-30 years. As far as I know, this will be the first time people are actually needing to deal with these leases expiring. Personally, I would not keep a home on lease land for a long period of time, unless I had something ironclad, in writing, saying the lease would be renewed, and for how long. It could all work out just fine, but I would do homework sooner rather than later.

Found this here on City-Data.
//www.city-data.com/forum/san-b...nd-leases.html

[digimaks]

Thanks for your input!
Yeah I was wondering how does it work, and asking everyone around - nobody knows!
I figured- it would worth talking about lwease land extention straight on with lessor, then BIA or fee collecting agency.