Business, Legal & Accounting Glossary
Chief Rent is a small sum of money in rent payable by the owner of a freehold property to the Lord of the Manor (yes, really!). In the past Chief Rent was payable indefinitely but may now be redeemed by a lump sum payment.
It’s similar to the ground rent payable by a leaseholder.
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This glossary post was last updated: 15th February, 2020 | 4 Views.