rent

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rent

1) v. to hire an object or real property for a period of time (or for an open-ended term) for specified payments. 2) n. the amount paid by the renter and received by the owner. Rent may be specified in a written lease, but also may be based on an oral agreement for either a short period or on a month-to-month basis in which the hiring may be terminated on a month's notice. (See: lease)

rent

the sum or amount agreed in the lease or tenancy agreement to be paid by the tenant to the landlord for exclusive possession of the property leased for the period of the lease. The same term maybe used for the charge for use of moveables such as a motor vehicle.

RENT, estates, contracts. A certain profit in money, provisions, chattels, or labor, issuing out of lands and tenements in retribution for the use. 2 Bl. Com. 41; 14 Pet. Rep. 526; Gilb., on Rents, 9; Co. Litt. 142 a; Civ. Code of Lo. art. 2750; Com. on L. & T. 95; 1 Kent, Com. 367; Bradb. on Distr. 24; Bac. Ab. h.t.; Crabb, R. P. SSSS 149-258.
     2. A rent somewhat resembles an annuity, (q.v.) their difference consists in the fact that the former issues out of lands, and the latter is a mere personal charge.
     3. At common law there were three kinds of rents; namely, rent-service, rent-charge, and rent-seek. When the tenant held his land by fealty or other corporeal service, and a certain rent, this was called rent-service; a right of distress was inseparably incident to this rent.
     4. A rent-charge is when the rent is created by deed and the fee granted; and as there is no fealty annexed to such a grant of rent, the right of distress is not in incident; and it requires an express power of distress to be annexed to the grant, which gives it the name of a rent- charge, because the lands are, by the deed, charged with a distress. Co. Litt. 143 b.
     5. Rent-seek, or a dry or barren rent, was rent reserves by deed, without a clause of distress, and in a case in which the owner of the rent had no future interest or reversion in the land, he was driven for a remedy to a writ of annuity or writ of assize.
     6. But the statute of 4 Geo. II. c. 28, abolished all distinction in the several kinds of rent, so far as to give the remedy by distress in cases of rents-seek, rents of assize, and chief rents, as in the case of rents reserved upon a lease. In Pennsylvania, a distress is inseparably incident to every species of rent that may be reduced to a certainty. 2 Rawle's Rep. 13. In New York, it seems the remedy by distress exists for all kinds of rent. 3 Kent Com. 368. Vide Distress; 18 Viner's Abr. 472; Woodf, L. & T. 184 Gilb. on Rents Com. Dig. h.t.. Dane's Ab. Index, h.t.
     7. As to the time when the rent becomes due, it is proper to observe, that there is a distinction to be made. It becomes due for the purpose of making a demand to take advantage of a condition of reentry, or to tender it to save a forfeiture, at sunset of the day on which it is due: but it is not actually due till midnight, for any other purpose. An action could not be supported which had been commenced on the day it became due, although commenced after sunset; and if the owner of the fee died between sunset and midnight of that day, the heir and not the executor would be entitled to the rent. 1 Saund. 287; 10 Co. 127 b; 2 Madd. Ch. R. 268; 1 P. Wms. 177; S. C. 1 Salk, 578. See generally, Bac. Ab. h.t.; Bouv. Inst. Index h.t.; and Distress; Reentry.

References in periodicals archive ?
Finally released from what to them was an obligation of farming the homestead, they rented out the place while they tried their hands at various business ventures.
The young bachelor, David Dougall, for example, of Usborne Township, Huron District rented out his own farm and lived with his brother for a while.
Judge Finkelstein even argues that if the legislature intended a holder of unsold shares be considered a "purchaser under the plan," or if a "non-purchasing tenant" status was to be limited to a person to whom an apartment is rented subsequent to the effective date of the plan but prior to closing, "the legislation should have contained a provision to that effect."
In 1986, SSP rented the Razavis' condominium to third parties for 149 days and received $29,559; SSP paid the Razavis $19,250 (11/12 of $21,000).
For rental periods of one year or less, it may be relatively easy to establish one's rented home as the principal residence; for extended rental periods, it may be more difficult.
280A(d)(2)(C), the court determined that Colbert had personal use of the property during 1982 because the property was rented at rates below FMV and that Colbert's rental expenses were limited under Sec.
The New West Coast, a Rockrose building in the West Village near the river that in July opened a new section of apartments, is completely rented out.
Additionally, those who completed substantial alterations that qualified for a first rent of $2,000 or more and who rented the apartment within the window period have taken that apartment out of rent regulation.
Tenants who rented during cooperative ownership are in a more tenuous position: the sponsor who could not sell the unit could charge a free market rent, which usually makes the actual rent of the unit higher than it would have been under regulation.
Where units have been rented in those counties in communities that have adopted the Emergency Tenant Protection Act and not yet modified it to exclude either owner or investor apartments, the owners will have to wait, however, until those units become vacant to avail themselves of the market rental freedoms.
When units have been rented in the hopes of merely covering the mortgage and maintenance, owners have found they are no longer entitled to possession until the tenant decides to leave.
Dan Margulies, executive director of the Community Housing Improvement Program said there has been a long standing procedure at the Division of Housing and Community Renewal (DHCR) for registering a "preferential" rent when apartments cannot be rented for a legal rent.