ground rent
"Ground rent" refers to a periodic payment made by a leaseholder to a landowner for the use of the land, common in the UK and some parts of the US.
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Definition
C1Real Estate
(technical)A regular payment made by a leaseholder to a landowner for the use of the land on which their property is situated.
Example
- The leaseholder pays ground rent to the freeholder annually.
C1Law
(technical, UK, US)A fixed annual fee paid by a tenant to a landowner, often in addition to other rent or lease payments.
Example
- In some states, ground rent is a common practice for keeping housing costs lower.
Similar
Terms that have similar or relatively close meanings to "ground rent":