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KembaraXtra – Legal Terms – Peppercorn Rent
A peppercorn rent is a very small or nominal rent reserved under a lease.
The rent is often purely symbolic and may consist literally of a peppercorn.
Its purpose is to show that the lease is supported by valuable consideration.
Peppercorn rents are commonly used where parties do not intend any substantial rent to be paid.
Such arrangements are frequently seen in long leases granted for premium payments.
A peppercorn rent is a very small or nominal rent reserved under a lease.
The rent is often purely symbolic and may consist literally of a peppercorn.
Its purpose is to show that the lease is supported by valuable consideration.
Peppercorn rents are commonly used where parties do not intend any substantial rent to be paid.
Such arrangements are frequently seen in long leases granted for premium payments.
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