Definition - Noun 1 a :
a return made by a tenant or occupant of real property to the owner for possession and use thereof
a sum of money agreed upon between a landlord and tenant for the use of real property b in the civil law of Louisiana :
a contract by which one party conveys to another to hold as owner a tract of land or other immovable property in perpetuity in exchange for payment of an annual sum or quantity of fruits c :
the amount paid by a hirer of personal property to the owner for the use thereof d :
a royalty under a mineral lease 2 :
the portion of the income of an economy (as of a nation) attributable to land as a factor of production in addition to capital and labor :
available for use or service in return for payment Definition - Transitive Verb 1 :
to grant the possession and enjoyment of in exchange for rent 2 :
to take and hold under an agreement to pay rent 1 :
to be for rent 2 a :
to obtain use and possession of a place or property in exchange for rent b :
to allow the possession and use of property in exchange for rent
|Based on Merriam-Webster's Dictionary of Law ©2001.
Published under license with Merriam-Webster, Incorporated.