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A rendering of the Broad Street view of a proposed 400-unit apartment building in Freehold by Meridia Capodagli Property on Tuesday, Aug. 6, 2024, on display at The American Hotel in Freehold, New ...
SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. When you sell a primary residence, the IRS allows you to exclude from your capital gains taxes ...
In this sense, a ground rent is created when a freehold piece of land is sold on a long lease or leases. [1] The ground rent provides an income for the landowner. [ 2 ] 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 .
If the time of ownership can be fixed and determined, it cannot be a freehold. It is "An estate in land held in fee simple, fee tail or for term of life." [4] The default position subset is the perpetual freehold, which is "an estate given to a grantee for life, and then successively to the grantee's heirs for life." [4]
Rentcharge is a legal device which permitted an annual payment to be continually levied on a freehold property. A deed made with the parties' knowledge is legally effective against land to effect this and has been lawful since the 1290 Statute of Quia Emptores ().
A basement apartment is an apartment located below street level, underneath another structure—usually an apartment building, but possibly a house or a business. Cities in North America are beginning to recognize these units as a vital source of housing in urban areas and legally define them as an accessory dwelling unit or "ADU".