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Ground rent
Meaning
Noun
●
In Law & Real estate:
Rent
paid
under a
ground
lease
, usually
long-term
or
in perpetuity
, for a
surface
right or
estate in land
where the
landowner
(surface
owner
) and the
owner
of
improvements
(ground
lessor
) are
separate
; the
improvements
are
effectively
security for the
payment
of the
rent
.
●
In Maryland English, Pennsylvania English & Law:
Rentcharge.
Sourced from
Wiktionary
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