ground rent lease
- An expression familiar in Maryland but anomalous in some other jurisdictions. The chief characteristics of the Maryland ground rent leases are (1) the owner of the land in fee leases it to the named lessee for the period of ninety-nine years, (2) with covenant for renewal from time to time forever, upon payment of a small renewal fine (3) upon the condition, however, of the payment of a certain sum of money (usually payable semi-annually) and (4) upon the further condition that if the payment of the rent is in default for a stipulated time the lessor may reenter and avoid the lease. The grantee also covenants to pay all taxes upon the whole property; and under the present (1941) taxing system the taxes are assessed to the lessee. Jones v Magruder (DC Md) 42 F Supp 193. The typical Pennsylvania ground rent is not created by a lease but results from a conveyance by the absolute owner of the land to the grantee in fee, subject to the payment of rent. The difference between the Maryland and Pennsylvania ground rent systems is said to be attributable to the somewhat different provisions of the respective royal charters to Cecelius Calvert and William Penn for the proprietary provinces of Maryland and Pennsylvania, with respect to the application of the Statute of Quia Emptores. Jones v Magruder (DC Md) 42 F Supp 193.
Ballentine's law dictionary. Anderson, W.S.. 1998.
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ground rent — noun Rent paid for the land, usually for a long term lease or in perpetuity, where the land owner and the owner of improvements are different; the improvements are effectively security for the payment of the rent … Wiktionary
ground rent — noun Brit. rent paid under the terms of a lease by the owner of a building to the owner of the land on which it is built … English new terms dictionary
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ground lease — A lease of vacant land, or land exclusive of any buildings on it, or unimproved real property. Usually a net lease. See also ground rent lease … Black's law dictionary
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