Ground Rent

Ground rent, sometimes known as a rentcharge, is a regular payment made by the owner of a leasehold property to the freeholder, as required under a lease. A ground rent is created when a freehold piece of land or a building is sold on a long lease or leases. The ground rent provides an income for the landowner. A building can be either sold as a single house or divided as flats.

Ground rent should not be confused with Chief Rent (confusingly also known as a rentcharge) payable on some freehold property in North West England.

Read more about Ground Rent:  History, Valuation, United Kingdom, Republic of Ireland, United States of America

Famous quotes containing the words ground and/or rent:

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