| 单词 | ground annual |
| 释义 | ground annual ground annual in Scotland, and prior to 1974, a form of pecuniary real burden. A contract of ground annual was the sale of land to be paid for by annual payments in perpetuity. Apart from the burden in the transfer, the contract provides for a reconveyance in security, allowing the creditor or his successors very powerful remedies on failure to pay. Only ground annuals created before the abolition remain valid, and they cannot be varied to increase the liability. ground rent rent reserved under a lease, usually for a long term of years, by lessor and payable by whomsoever will be the lessee for the time being; the lessee may assign his terms subject to the ground rent. Ground rent is often reserved in respect of building leases under which the lessee will erect buildings that, at the termination of the lease, will become, together with the land, the property of the lessor. group relief the set of rules permitting companies within the same group certain flexibility that would not be allowed if the group rela- tionship did not exist. Thus, for example, a trading loss incurred by one group member may be set against profits of another member of the same group.186 |
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