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Ground Rent
As a legal term, ground rent specifically refers to regular payments made by a holder of a leasehold property to the freeholder or a superior leaseholder, as required under a lease. In this sense, a ground rent is created when a freehold piece of land is sold on a long lease or leases.seDepartment for Communities and Local Government/ref> The ground rent provides an income for the landowner. In economics, ground rent is a form of economic rent meaning all value accruing to titleholders as a result of the exclusive ownership of title privilege to location. History In Roman law, ground rent (''solarium'') was an annual rent payable by the lessee of a ''superficies'' (a piece of land), or perpetual lease of building land. In early Norman England, tenants could lease their title to land so that the land-owning lords did not have any power over the sub-tenant to collect taxes. In 1290 King Edward I passed the Statute of ''Quia Emptores'' that prevented tenants from leasing their l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold
A leasehold estate is an ownership of a temporary right to hold land or property in which a Lease, lessee or a tenant has rights of real property by some form of title (property), title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a Freehold (law), freehold or fee simple where the ownership of a property is purchased outright and after that held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) periodically such as weekly or monthly. Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially k ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Georgism
Georgism, in modern times also called Geoism, and known historically as the single tax movement, is an economic ideology holding that people should own the value that they produce themselves, while the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society. Developed from the writings of American economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems based on principles of land rights and public finance that attempt to integrate economic efficiency with social justice. Georgism is concerned with the distribution of economic rent caused by land ownership, natural monopolies, pollution rights, and control of the commons, including title of ownership for natural resources and other contrived Privilege (legal ethics), privileges (e.g., intellectual property). Any natural resource that is inherently limited in Supply (econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reversion (law)
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death, when the property rights may rever ... or a leasehold estate). Once the lesser estate comes to an end (the lease expires or the life estate tenant dies), the property automatically reverts (hence ''reversion'') back to the grantor. References Property law {{law-term-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law Of Property Act 1925
The Law of Property Act 1925 ( 15 & 16 Geo. 5. c. 20) is an act of the Parliament of the United Kingdom. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The act deals principally with the transfer of freehold or leasehold land by deed. The LPA 1925, as amended, provides the core of English land law, particularly as regards many aspects of freehold land which is itself an important consideration in all other types of interest in land. Background The keynote policy of the act was to reduce the number of legal estates to two – freehold and leasehold – and generally to make the transfer of interests in land easier for purchasers. Other policies were to regulate mortgages and as to leases, to regulate mainly their assignment, and to tackle some of the '' lacunae'', ambiguities and shortcomings in the law of property. Inn ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonhold And Leasehold Reform Act 2002
The Commonhold and Leasehold Reform Act 2002 (c. 15) is an act of the Parliament of the United Kingdom. It introduced commonhold, a new way of owning land similar to the Australian strata title or the American condominium, into English and Welsh law. Part 1 deals with commonhold and part 2 deals with leasehold reform. Some supplementary material is covered in part 3. Commonholds were introduced to deal with the perceived unfairness of the existing leasehold system, and England and Wales being unique in not offering a legal option for ownership of common areas of shared buildings. It gives leaseholders the right to manage their properties more actively, by taking control of some rights otherwise held by the freeholder. Commonhold ownership has not become popular, and in 2018 the Law Commission launched a consultation into ways to expand usage of commonhold estates. See also *Leasehold estate *Leasehold Reform Act 1967 *Leasehold valuation tribunal References External link ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stewart V
Stewart may refer to: People *Stewart (name), Scottish surname and given name *Clan Stewart, a Scottish clan * Clan Stewart of Appin, a Scottish clan Places Canada * Stewart, British Columbia *Stewart Township, Nipissing District, Ontario (historical) New Zealand *Stewart Island / Rakiura United Kingdom *Newton Stewart, Scotland *Portstewart, Northern Ireland *Stewartby, Bedfordshire, England United States Airports *Stewart Air Force Base, New York, a former Air Force base and now-joint civil-military airport, shared by: ** Stewart Air National Guard Base, New York **Stewart International Airport (also known as Newburgh-Stewart IAP), New York Counties * Stewart County, Georgia *Stewart County, Tennessee Localities *Stewart, Alabama * Stewart, Indiana * Stewart, McLeod County, Minnesota, a city in McLeod County, Minnesota * Stewart, Lake County, Minnesota, an unincorporated community in Lake County, Minnesota *Stewart, Mississippi * Stewart, Missouri * Stewart, Ohio * Stewar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Scott, 1st Earl Of Eldon
John Scott, 1st Earl of Eldon, (4 June 1751 – 13 January 1838) was a British barrister and politician. He served as Lord High Chancellor of Great Britain between 1801 and 1806 and again between 1807 and 1827. Early life Background Eldon was born in Newcastle upon Tyne. His grandfather, William Scott of Sandgate, a street adjacent to the Newcastle quayside, was clerk to a fitter, a sort of water-carrier and broker of coals. His father, whose name also was William, began life as an apprentice to a fitter, in which service he obtained the freedom of Newcastle, becoming a member of the guild of Hostmen (coal-fitters); later in life he became a principal in the business, and attained a respectable position as a merchant in Newcastle, accumulating property worth nearly £20,000. Education Eldon was educated at Royal Grammar School, Newcastle, Newcastle upon Tyne Royal Grammar School. He was not remarkable at school for application to his studies, though his wonderful memory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maundy V
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Maundy may refer to: *Maundy Thursday, a Christian holiday commemorating the Last Supper *Maundy (foot washing), the liturgical foot washing ceremonies which occurs on Maundy Thursday *Maundy money, dispensed at the Maundy ceremony by the British Monarch See also *Maundy Gregory Arthur John Maundy Gregory, who later used the name Arthur John Peter Michael Maundy Gregory (1 July 1877 – 28 September 1941) was a British theatre producer and political fixer who is best remembered for selling honours for the Prime Minister, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Law
English law is the common law list of national legal systems, legal system of England and Wales, comprising mainly English criminal law, criminal law and Civil law (common law), civil law, each branch having its own Courts of England and Wales, courts and Procedural law, procedures. The judiciary is judicial independence, independent, and legal principles like Procedural justice, fairness, equality before the law, and the right to a fair trial are foundational to the system. Principal elements Although the common law has, historically, been the foundation and prime source of English law, the most authoritative law is statutory legislation, which comprises Act of Parliament, Acts of Parliament, Statutory Instrument, regulations and by-laws. In the absence of any statutory law, the common law with its principle of ''stare decisis'' forms the residual source of law, based on judicial decisions, custom, and usage. Common law is made by sitting judges who apply both United Kingdom l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold Reform, Housing And Urban Development Act 1993
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and after that held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) periodically such as weekly or monthly. Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially known as renting. The leaseholder can re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasehold Reform Act 1967
The Leasehold Reform Act 1967 (c. 88) is an act of Parliament of the United Kingdom, which concerns English land law and compulsory purchase. A government bill, the law remains largely intact. It was passed by both Houses and had been tabled by ministers of the Labour government, 1964–1970. Provisions and subsequent amendments The act grants the right to long leaseholders of houses let at low and moderately low rents to buy their homes compulsorily from their landlords at a fair price. Initially the 1967 act applied only to homes below these rateable values: £400 in London and £200 p.a. elsewhere (thus targeting low-to-middle income homeowners); the reform coincided with lower wages becoming less of a bar to access to loans from major mortgage lenders. The act has since been amended on a number of occasions to expand these rights, to homeowners having higher rateable values. Background English law and lending eschews the concept of flying freehold entire properties, s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imputed Rent
Imputed rent is the rental price an individual would pay for an asset they own. The concept applies to any capital good, but it is most commonly used in housing markets to measure the rent homeowners would pay for a housing unit equivalent to the one they own. Imputing housing rent is necessary to measure economic activity in national accounts. Because asset owners do not pay rent, owners' imputed rent must be measured indirectly. Imputed housing rent is the economic theory of imputation applied to real estate: that the value is more a matter of what the buyer is willing to pay than the cost the seller incurs to create it. In this case, market rents are used to estimate the value to the property owner. Thus, imputed rent offers a way to compare homeowners' and tenants' economic decisions. More formally, in owner-occupancy, the landlord– tenant relationship is short-circuited. Consider a model: two people, A and B, each of whom owns property. If A lives in B's property, and B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
