Legal Definition and Related Resources of Rent

It is something issuing out of land as a compensation for the possession during the term. It is a fixed sum, or property amounting to the fixed sum, to be paid at stated times for the use of property. M.E. Blatt Co. v U.S., 305 U.S. 267, 59 S.Ct. 186, 83 L.Ed. 167. It is a consideration paid for use or occupation of property. Rosewood Corp. v Trans America Ins. Co., 311 N.E.2d673,57 Ill.2d 247. The term has been held to include royalties under a mineral lease . See U.S. Steel Corp. v U.S., (D.C.N. Y.)270 F.Supp. 253.

A return or compensation for the possession of some corporeal inheritance, and is a certain profit, either in money, provisions, or labor, issuing out of lands and tenements, in return for their use. Some of its common-law properties are that it must be a profit to the proprietor, certain in its character, or capable of being reduced to a certainty, issuing yearly, that is, periodically, out of the thing granted, and not be part of the land or thing itself. Co. Litt. 47; 2 Bl. Comm. 41. At common law there were three species of rent, rent service, having some corporeal service attached to the tenure of tha land, to which the right of distress was necessarily incident; rent charge, which was a reservation of rent, vrith a clause authorizing its collection by distress; and rent seek, where there was no such clause, but the rent could only be collected by an ordinary action at law. These distinctions, however, for all practical purposes, have become obsolete, in consequence of various statutes both in England and in this country, allovnng every kind of rent to be distrained for without distinction. See Tayl. Landl. & Ten. § 370.

verb

• allow residency
• allow the use of
• charter
• conducere
• contract
• demise
• enjoy the use of premises
• engage
• give occupation
• grant a lease
• hire out
• lease
• lend
• let
• let out
• locare
• make available
• sublease
• sublet
• subrent
• take a lease
• underlease
• underlet
• use premises Associated Concepts: option to rent

noun

• assessment
• compensation
• cost
• fee
• income
• income from real estate
• land revenue
• merces
• payment
• proceeds
• reditus
• remuneration
• rental
• return
• revenue Associated Concepts: action for rent
• assignment of rent
• ejectment
• fair rent
• fair rental value
• holdover
• monthtomonth rental
• prepayment of rent
• reasonable rent
• rent strike
• rents and proceeds
• security
• suit for rent
• tenancy by will
• unaccrued rent

Browse or run a search for Rent in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Rent in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Rent in Historical Law in the Encyclopedia of Law.

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This definition of Rent is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

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Etimology of Rent

(You may find rent at the world legal encyclopedia and the etimology of more terms).

payment for use of property, mid-12c., a legal sense, originally “income, revenue” (late Old English), from Old French rente “payment due; profit, income,” from Vulgar Latin *rendita, noun use of femenine past participle of rendere “to render” (see render (verb)).

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Further Reading

Ricardo, David C. Rowley and R. D. Tollison, ed., The Political Economy of Rent Seeking (1988). Hicks, John R. (1932) 1964 The Theory of Wages. New York: St. Martins.

Hoover, Edgar M.; and Vernon, Raymond 1959 Anatomy of a Metropolis: The Changing Distribution of People and Jobs Within the New York Metropolitan Region. Cambridge, Mass.: Harvard Univ. Press. _ A paperback edition was published in 1962 by Double-day.

Hoyt, Homer 1933 One Hundred Years of Land Values in Chicago: The Relationship of the Growth of Chicago to the Rise in Its Land Values, 1830-1933. Univ. of Chicago Press.

Marshall, Alfred (1890)1961 Principles of Economics. 2 vols. 9th ed. New York and London: Macmillan. _ See especially Book 5, Chapters 9-11, and Book 6,
Chapter 9.

Muth, Richard F. 1961 Economic Change and Rural-Urban Land Conversions. Econometrica 29:1-23.

Ricardo, David (1817) 1962 Principles of Political Economy and Taxation. London: Dent; New York: Dutton._ A paperback edition was published in 1963 by Irwin. See especially Chapter 2.

Colander, David C., ed. 1984. Neoclassical Political Economy. Cambridge, MA: Ballinger.

George, Henry. [1884] 1982. The Land Question. New York: Schalkenbach Foundation.

Krueger, Anne O. 1974. The Political Economy of the Rent-Seeking Society. American Economic Review 64: 291-303.

Laurent, John, ed. 2003. Henry George’s Legacy in Economic Thought. Northampton, MA: Edward Elgar.

Ricardo, David. [1817] 1948. The Principles of Political Economy and Taxation. New York: E. P. Dutton.

Tullock, Gordon. 1989. The Economics of Special Privilege and Rent Seeking. Norwell, MA: Kluwer Academic Publishers.

Warren J. Samuels

Concept of Rent in the context of Real Property

A short definition of Rent: Consideration paid for the occupancy and use of real property. A general term covering any consideration (not only money).

Concept of Rent in the context of Real Property

A short definition of Rent: Consideration paid for the occupancy and use of real property. A general term covering any consideration (not only money).

Rent