ground rent

noun

Definition of ground rent

: the rent paid by a lessee for the use of land especially for building

Examples of ground rent in a Sentence

Recent Examples on the Web

The ground rent for the Lotte New York Palace Hotel, on Madison Avenue in Manhattan, is scheduled to reset based on fair market value in 2026. Keiko Morris, WSJ, "Ground Rents Weigh Down High-Soaring Icons," 22 Jan. 2019 The ground rent will be based on a new appraisal conducted in 2021, the company said. Keiko Morris, WSJ, "Ground Rents Weigh Down High-Soaring Icons," 22 Jan. 2019 Unlike many 99-year leases, Brookfield won’t pay annual ground rent. Peter Grant, WSJ, "Kushner Family Closes Deal to Unload 666 Fifth Avenue," 3 Aug. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'ground rent.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of ground rent

1667, in the meaning defined above

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Time Traveler for ground rent

The first known use of ground rent was in 1667

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More Definitions for ground rent

ground rent

noun

Legal Definition of ground rent

1 : the rent paid by a lessee for the use of land especially for building
2 : a rent charge reserved to himself or herself or his or her heirs by the grantor of land in fee simple, on perpetual lease, or on lease for a renewable term of years

Note: Ground rent in this sense is found chiefly in Pennsylvania and Maryland.

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