Subject: RENT From: Steven J. Coker Date: September 26, 1998 Extracted From: A LAW DICTIONARY ..., SIXTH EDITION, 1856 by John Bouvier CHILDS & PETERSON, PHILADELPHIA GROUND RENT, estates. In Pennsylvania, this term is used to signify a perpetual rent issuing out of some real estate. This rent is redeemable where there is a covenant in the deed that, before the expiration of a period therein named, it may be redeemed by the payment of a certain sum of money; or it is irredeemable, when there is no such agreement; and, in the latter case, it cannot be redeemed without the consent of both parties.... LIFE-RENT, Scotch law. A right to use and enjoy a thing during life, the substance of it being preserved. A life-rent cannot, therefore, be constituted upon things which perish in the use; and though it may upon subjects which gradually wear out by time, as household furniture, &c., yet it is generally applied to heritable subjects. Life-rents are divided into conventional and legal. -1. The conventional are either simple or by reservation. A simple life-rent, or by a separate constitution, is that which is granted by the proprietor in favor of another. A life-rent by reservation is that which a proprietor reserves to himself, in the same writing by which he conveys the fee to another. -2. Life-rents, by law, are the terce and the courtesy.... QUIT RENT. A rent paid by the tenant of the freehold, by which he goes quit and free; that is, discharged from any other rent.... In England, quit rents were rents reserved to the king or a proprietor, on an absolute grant of waste land, for which a price in gross was at first paid, and a mere nominal rent reserved as a feudal acknowledgment of tenure. Inasmuch as no rent of this description can exist in the United States, when a quit rent is spoken of, some other interest must be intended.... A perpetual rent reserved on a conveyance in fee simple, is sometimes known by the name of quit rent in Massachusetts.... ==== SCROOTS Mailing List ==== Go To: #, 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, Main |