- ground rent
-
ground rent n1: the rent paid by a lessee for the use of land esp. for building2: a rent charge reserved to himself or herself or his or her heirs by the grantor of land in fee simple, on perpetual lease, or on lease for a renewable term of years◇ Ground rent in this sense is found chiefly in Pennsylvania and Maryland.
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- ground rent
-
n.Rent paid for the use of land, usually to build on it.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- ground rent
-
rent reserved under a lease, usually for a long term of years, by lessor and payable by whomsoever will be the lessee for the time being; the lessee may assign his terms subject to the ground rent. Ground rent is often reserved in respect of building leases under which the lessee will erect buildings that, at the termination of the lease, will become, together with the land, the property of the lessor.
Collins dictionary of law. W. J. Stewart. 2001.
- ground rent
-
Originally, rent that was supposed to reflect only the value of the ground that was being let, ignoring any building on it. The term is now frequently used to mean a low or nominal rent, usually one paid under a long lease that was granted in return for a premium. The landlord gets a capital sum for the lease, so there is no reason for the tenant to pay a full market rent for the property as well. Often, the ground rent is simply a convenient figure, and has little bearing on the value of the land.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- ground rent
-
Perpetual consideration paid for the use and occupation of real property to the individual who has transferred such property, and subsequently to his or her descendants or someone to whom the interest is conveyed.
Dictionary from West's Encyclopedia of American Law. 2005.
- ground rent
-
Perpetual consideration paid for the use and occupation of real property to the individual who has transferred such property, and subsequently to his or her descendants or someone to whom the interest is conveyed.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
