ground rent

Definitions (2)

1. In the U.K. and the Commonwealth countries, the rent that a person who builds upon land owned by another, commonly under a 99-year lease, pays to the land owner. The landowner is called a freehold owner and holds title to the land, whereas the other person is called a leasehold owner and holds title to the building erected on the land. After the expiration of the lease, either the leasehold owner vacates the land or pays an agreed upon sum to become a freehold owner.
2. In the U.S., the rent earned from a leased land under the terms of ground lease.

Use ground rent in a sentence

You should always try to make sure that you pay all of your ground rent off on time to avoid penalties.

​ Was this Helpful? YES  NO 8 people found this helpful.

The ground rent was really high and that made us all feel really fortunate on the team because we would be getting money, since we were the land owners.

​ Was this Helpful? YES  NO 8 people found this helpful.

Harris was interested in building a house on a business's land. He pays ground rent to the business so he can build on the aforementioned business' land.

​ Was this Helpful? YES  NO 10 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ground lease groundwater