Quit rent

QUIT RENT. A rent paid by the tenant of the freehold, by which he goes quit and free; that is, discharged from any other rent. 2 Bl. Com. 42.
     2. In England, quit rents were rents reserved to the king or a proprietor, on an absolute grant of waste land, for which a price in gross was at first paid, and a mere nominal rent reserved as a feudal acknowledgment of tenure. Inasmuch as no rent of this description can exist in the United States, when a quit rent is spoken of, some other interest must be intended. 5 Call. R. 364. A perpetual rent reserved on a conveyance in fee simple, is sometimes known by the name of quit rent in Massachusetts. 1 Hill. Ab. 150. See Ground Rent; Rent.

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A property on auction is real estate that has been foreclosed by a bank or the High Court, usually due to the owner's failure to settle the payment for mortgages or quit rent.
To have and to hold to them the said Inhabitants and their Heirs, for the sole use and benefit of the Church forever, and that 1 the said James Moody, for myself, my Heirs, Executors and administrators covenant and agree with the said Inhabitants and their Heirs that 1 have good and lawful right to dispose of them in manner aforesaid, and that it is free from ail encumbrances, except His Majestys Quit Rent, andl will warrant and defend the same to them the said Inhabitants and their Heirs forever against the Lawful Claims of any person.
The company's operating profit margin remains strong, although the increase to 42.0 per cent from 39.6 per cent in 2012 is due to a one-off reversal of quit rent. During the year, Westports declared a sizeable dividend of RM1.2 billion in conjunction with its parent Westports Holdings' initial public offering exercise in October 2013.
Non-fiscal incentives include competitive land pricing encompassing discount rate for land premium, quit rent and land assessment, guaranteed land lease periods for a specific time period and flexibility in the employment of expatriates.AiA
On the state government's initiative to review the quit rent for 2020-2029 which is now in its final stage, Sahruddin said it would be based on five principles, among which is imposing a more suitable and reasonable quit rent based on conditions, usage and land area.
The Johor government is in the final stages of revising its quit rent rates.
He said the parcel rent, which replaces quit rent for stratified properties, is effective from January this year.
Among others, he said, a RM17.3 million has been allocated for the development of Islamic affairs in the state, and there was no increase in quit rent and assessment tax within this five years; also financial assistance, ranging from RM500 to RM1,000 to students; monthly assistance to 2,490 disabled people, as well as single mothers.
Land and related charges like assessment tax and quit rent fall under state purview.
But you will also, as a homeowner, have to pay for all related fees such as management fees, quit rent, assessment tax, insurance, repairs and maintenance costs.
'The land was registered on November 7, 2017, and the quit rent was only RM43, a nominal fee.
The state government is appealing to residents in Kedah to settle their quit rent arrears to enable more revenue to be collected for the better management of the state's finance.