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LSDefine

Simple English definitions for legal terms

ground annual

Read a random definition: prolocutor

A quick definition of ground annual:

Ground annual: A type of rent that is paid for the use of land. It can also refer to a fee that is paid for owning land.

A more thorough explanation:

Definition: Ground annual refers to a type of rent that is paid by a tenant to the owner of the land on which a building or property is located. It is also known as ground rent or feu duty.

Example: If a person owns a house but not the land it is built on, they may have to pay ground annual to the landowner. For instance, if the ground annual is $500 per year, the tenant will have to pay this amount to the landowner in addition to any other expenses related to the property.

Explanation: The example illustrates how ground annual works in practice. The tenant is responsible for paying the landowner a fixed amount of money each year for the right to use the land. This payment is separate from any other expenses related to the property, such as maintenance or repairs.

groundage | ground landlord

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