ground rent

ground rent
Rent paid to owner of land for use of property; normally to construct building on such. Generally, rent is paid for a long-term lease (e.g. 99 year lease) with lessor retaining title to land. Such longterm lease is commonly renewable. Office buildings, hotels, and similar large structures in cities are commonly built on land under such types of ground leases. A perpetual rent reserved to himself and his heirs, by the grantor of land in fee-simple, out of the land conveyed. It is in the nature of an emphyteutic rent. Also, in English law, rent paid on a building lease

Black's law dictionary. . 1990.

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  • ground rent — n 1: the rent paid by a lessee for the use of land esp. for building 2: 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… …   Law dictionary

  • Ground rent — ground ground (ground), n. [OE. ground, grund, AS. grund; akin to D. grond, OS., G., Sw., & Dan. grund, Icel. grunnr bottom, Goth. grundus (in composition); perh. orig. meaning, dust, gravel, and if so perh. akin to E. grind.] 1. The surface of… …   The Collaborative International Dictionary of English

  • ground rent — ➔ rent2 * * * ground rent UK US noun [C or U] PROPERTY ► money paid by the owner of a building or apartment to the person who owns the land on which it has been built: »He almost lost his home because of unpaid ground rent …   Financial and business terms

  • ground rent — ground rents N VAR Ground rent is rent that is paid by the owner of a flat or house to the owner of the land on which it is built. [mainly BRIT] How much is the annual ground rent?... Ground rents are likely to escalate over time …   English dictionary

  • ground rent — Rent payable under a lease that has been granted or assigned for a capital sum (premium). Normally, long leases on offices, flats, etc. , are granted for such a premium, payable when the lease is first granted; in addition the leaseholder pays… …   Big dictionary of business and management

  • ground rent — n [U and C] rent that you pay to the person who owns the land that your house, office etc is built on …   Dictionary of contemporary English

  • ground rent — ground′ rent n. the rent at which land is let to a tenant either for a long term or perpetually • Etymology: 1660–70 …   From formal English to slang

  • ground rent — ► NOUN Brit. ▪ rent paid by the owner of a building to the owner of the land on which it is built …   English terms dictionary

  • ground rent — n. Chiefly Brit. rent paid for land on which the occupant can build or make improvements …   English World dictionary

  • ground rent — ground ,rent noun count or uncount BRITISH money paid by someone who lives or works in a building to the owner of the land that the building is on …   Usage of the words and phrases in modern English

  • Ground rent — A ground rent, sometimes known as a rentcharge or a chief rent in North West England, see [http://www.gos.gov.uk/gonw/PeopleSustainableCommunities/Housing/Rentcharges/ Government Office for the North West] Retrieved on 2008 02 06] is a regular… …   Wikipedia

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