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ground-rent
[Cf. Du. grondrente, G. grundrente.]
The rent paid to the owner of land which is let for building upon. Also U.S. (see quot. 1856).
1667Primatt City & C. Build. 35 Fifty pounds per ann. is but a reasonable ground-rent for a House that will cost five hundred pounds..and yield one hundred pounds per annum. 1682N. O. Boileau's Lutrin iv. 292 Fifty Marks a year in Ground-Rents. 1701Lond. Gaz. No. 3712/4 The Ground Rent [is] but 10s. per Annum. 1776Adam Smith W.N. v. ii. (1869) II. 436 Ground rents are a still more proper subject of taxation than the rent of houses. 1834West Ind. Sketch Bk. II. 158 A great convenience..to the tenants, in all questions of ground-rent. 1856Bouvier Law Dict., Ground rent, in Pennsylvania this term is used to signify a perpetual rent issuing out of some real estate. 1863Fawcett Pol. Econ. ii. vii. (1876) 621 The occupier of a house pays a ground-rent to the owner of the land.
†b. A piece of land rented for building on. Obs.
1714Gay Shepherd's Week, Proeme, As a London mason, who calculateth his work for a term of years, when he buildeth with old materials upon a ground-rent that is not his own, which soon turneth to rubbish and ruins. |