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Simple English definitions for legal terms
reditus
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A quick definition of reditus:
Reditus means "return" in Latin. It refers to the money or goods that someone gets in exchange for letting someone else use their property. For example, if you rent a house to someone, the money they pay you is the reditus. There are different types of reditus, like rent payable in money or goods, or chief rent paid by a freeholder. Rent is a type of reditus that people pay for using someone else's property.A more thorough explanation:
Definition: Reditus (red-uh-tuhs) is a Latin term that means "return" and refers to revenue or return, especially rent. It can also refer to specific types of rent, such as:
- Reditus albi: Rent payable in silver or other money.
- Reditus capitales: Chief rent paid by a freeholder to go quit of all other services.
- Reditus nigri: Rent payable in goods or labor rather than in money.
- Reditus quieti: Rent seck.
- Reditus siccus: Rent seck.
Rent, on the other hand, is a consideration paid, usually periodically, for the use or occupancy of property, especially real property. Some examples of rent include:
- Ceiling rent: The maximum rent that can be charged under a rent-control regulation.
- Crop rent: The portion of a harvest given to a landlord by a sharecropper as rent.
- Double rent: Twice the amount of rent agreed to; specifically, a penalty of twice the amount of rent against a tenant who holds possession of the leased property after the date provided in the tenant's notice to quit.
- Dry rent: Rent reserved without a distress clause allowing the rent to be collected by distress; rent that can be collected only by an ordinary legal action.
- Ground rent: Rent paid by a tenant under a long-term lease for the use of undeveloped land, usually for the construction of a commercial building.
- Rent charge: The right to receive an annual sum from the income of land, usually in perpetuity, and to retake possession if the payments are in arrears.
- Rent service: A rent with some corporeal service incident to it (as by fealty) and with a right of distress.
For example, if you rent an apartment, you pay a certain amount of money each month to the landlord for the right to live in the apartment. This payment is called rent. If you are a sharecropper, you may give a portion of your harvest to the landlord as rent. This is called crop rent. If you hold possession of the leased property after the date provided in the tenant's notice to quit, you may be charged double rent as a penalty. This is called double rent.