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Ground rents
 

 

Rent paid for land as opposed to rent paid for the buildings on the land. Rights to receive ground rents can be bought and sold. At one time, prior to April I 1964, tax was deducted by the payer and the payment was treated as an annual charge. Payment is now made gross, i.e. no tax is deducted.

Reference: The Penguin Business Dictionary, 3rd edt.