Quite An Achievement In 5 Months.....
News2 mins ago
peppercorn reny
3 Answers
what is peppercorn rent
Answers
1 to 3 of 3
Best Answer
No best answer has yet been selected by rachypops. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Peppercorn rent is an agreement to demonstrate that legally, the land is leasehold, not freehold. In order for a lease to be valis, the landlord must receive rent from the tennant - in the case where the landlord does not want rent, but merely to preserve the leasehold, he offers a 'peppercorn' rent - which means that no rent is actually received. the term comes from the days when the tennent would actually hand over one peppercorn, as notice of how small the rent is - but in modern times, it's the legal term for a 'gentleman's agreement'.
1 to 3 of 3
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.