Peppercorn rent - Revision history

Designing Buildings at 09:46, 2 October 2020

2020-10-02T09:46:51Z

← Older revision		Revision as of 09:46, 2 October 2020
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	If a leaseholder extends a lease under the Leasehold Reform, Housing and Urban Development Act 1993 they then only have to pay a ‘peppercorn rent’, effectively a ground rent of nothing. If a lease is extended by negotiation however, ground rent may still be payable.		If a leaseholder extends a lease under the Leasehold Reform, Housing and Urban Development Act 1993 they then only have to pay a ‘peppercorn rent’, effectively a ground rent of nothing. If a lease is extended by negotiation however, ground rent may still be payable.

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Betterment.		* Betterment.
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	* Valuable consideration.		* Valuable consideration.

−	[[Category:Property_law]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Property_law]] [[Category:Property_development]]

Editor at 12:22, 1 August 2017

2017-08-01T12:22:57Z

← Older revision		Revision as of 12:22, 1 August 2017
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−
	The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to conditions set out in the lease in return for the payment of rent. At the end of the lease the premises revert to the freeholder.		The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to conditions set out in the lease in return for the payment of rent. At the end of the lease the premises revert to the freeholder.

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	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
−	*Betterment.
−	*Break clauses in leases.
−	*Dilapidations.
−	*Ground rent.
−	*Leasehold.
−	*Lease Negotiations - Tenants Checklist.
−	*Licence to alter.
−	*Rent-free period.
−	*Rent review.
−	*Reversion.
−	*Schedule of dilapidations.
−	*Scott schedule.
−	*Service charge.
−	*Supersession.
−	*Vacant possession.
−	*Valuable consideration.

−	[[Category:Property_law]]	+	* Betterment.
−	[[Category:Property_development]]	+	* Break clauses in leases.
		+	* Dilapidations.
		+	* Ground rent.
		+	* Leasehold.
		+	* Lease Negotiations - Tenants Checklist.
		+	* Licence to alter.
		+	* Rent.
		+	* Rent-free period.
		+	* Rent review.
		+	* Reversion.
		+	* Schedule of dilapidations.
		+	* Scott schedule.
		+	* Service charge.
		+	* Supersession.
		+	* Vacant possession.
		+	* Valuable consideration.
		+
		+	[[Category:Property_law]] [[Category:Property_development]]

Designing Buildings at 12:12, 3 September 2014

2014-09-03T12:12:21Z

← Older revision		Revision as of 12:12, 3 September 2014
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	The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to conditions set out in the lease in return for the payment of rent. At the end of the lease the premises revert to the freeholder.		The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to conditions set out in the lease in return for the payment of rent. At the end of the lease the premises revert to the freeholder.

−	Generally, in order for a lease to be enforceable, a ground rent (valuable consideration) is paid by the leaseholder. However, historically, as the amounts payable were typically very small, some freeholders asked for peppercorns rather than money, with a phrase in the lease such as, ‘...a yearly rent of one peppercorn, if demanded’, effectively meaning that there was nothing to collect.	+	Generally, in order for a lease to be enforceable, a ground rent (valuable consideration) is paid by the leaseholder to the landlord. However, historically, as the amounts payable were typically very small, some freeholders asked for peppercorns rather than money, with a phrase in the lease such as, ‘...a yearly rent of one peppercorn, if demanded’, effectively meaning that there was nothing to collect.

−	This has given rise to the term ‘peppercorn lease’. The phrase is now also used more generally to mean an amount that is small or insignificant, for example a ‘peppercorn payment’ for the sale of something ~~with~~ little value.	+	This has given rise to the term ‘peppercorn lease’. The phrase is now also used more generally to mean an amount that is small or insignificant, for example a ‘peppercorn payment’ for the sale of something that has little monetary value.

−	Ground ~~rents are~~ still charged by landlords, and is a condition of most leases. Ground rent is usually a small amount, typically £50 to £300 a year. If the amount is very small, or notional, it may be described as a peppercorn rent.	+	Ground rent is still charged by landlords, and is a condition of most leases. Ground rent is usually a small amount, typically £50 to £300 a year. If the amount is very small, or notional, it may be described as a peppercorn rent.

−	If a leaseholder extends a lease under the Leasehold Reform, Housing and Urban Development Act 1993 they ~~only~~ then have to pay a ‘peppercorn rent’ effectively a ground rent of nothing. If a lease is extended by negotiation ground rent may still be payable.	+	If a leaseholder extends a lease under the Leasehold Reform, Housing and Urban Development Act 1993 they then only have to pay a ‘peppercorn rent’, effectively a ground rent of nothing. If a lease is extended by negotiation however, ground rent may still be payable.

	= Find out more =		= Find out more =
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	*Supersession.		*Supersession.
	*Vacant possession.		*Vacant possession.
		+	*Valuable consideration.

	[[Category:Property_law]]		[[Category:Property_law]]
	[[Category:Property_development]]		[[Category:Property_development]]

Designing Buildings: Created page with " The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to c..."

2014-09-03T12:09:38Z

Created page with " The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to c..."

New page

The term ‘leasehold’ in property law describes a lease from the freeholder of a property that enables the leaseholder to use the property for a specified period subject to conditions set out in the lease in return for the payment of rent. At the end of the lease the premises revert to the freeholder.

Generally, in order for a lease to be enforceable, a ground rent (valuable consideration) is paid by the leaseholder. However, historically, as the amounts payable were typically very small, some freeholders asked for peppercorns rather than money, with a phrase in the lease such as, ‘...a yearly rent of one peppercorn, if demanded’, effectively meaning that there was nothing to collect.

This has given rise to the term ‘peppercorn lease’. The phrase is now also used more generally to mean an amount that is small or insignificant, for example a ‘peppercorn payment’ for the sale of something with little value.

Ground rents are still charged by landlords, and is a condition of most leases. Ground rent is usually a small amount, typically £50 to £300 a year. If the amount is very small, or notional, it may be described as a peppercorn rent.

If a leaseholder extends a lease under the Leasehold Reform, Housing and Urban Development Act 1993 they only then have to pay a ‘peppercorn rent’ effectively a ground rent of nothing. If a lease is extended by negotiation ground rent may still be payable.

= Find out more =

=== Related articles on Designing Buildings Wiki ===
*Betterment.
*Break clauses in leases.
*Dilapidations.
*Ground rent.
*Leasehold.
*Lease Negotiations - Tenants Checklist.
*Licence to alter.
*Rent-free period.
*Rent review.
*Reversion.
*Schedule of dilapidations.
*Scott schedule.
*Service charge.
*Supersession.
*Vacant possession.

[[Category:Property_law]]
[[Category:Property_development]]