Ground Rent

Definition

• The rent paid by a lessee for the use of property or land only.

Synonyms
land rent, ground lease

Related Terms and Acronyms

• Land — Definition,
  • The solid ground of the earth. This can include everything under it and over it. For example, Condominium Acts do divide land horizontally thereby limiting the vertical ownership.
• Lease (lse) — Abbreviation,
  • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
• Lessee — Definition,
  • The person who signs a lease.
• Lessor — Definition,
  • The person who grants a lease.
• Proprietor — Definition,
  • The owner of a business or property.
• Purchase Option — Definition,
  • An agreement where a portion of monthly rent can be credited toward the purchase of a property.
  • The portion of a vehicle lease that determines how much a lessee pays the lessor at the end of the lease to buy the vehicle. The price is usually the residual value.
• Rent — Definition,
  • When one party pays another for the use of an asset, service or property.