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Mortgage Glossary: Chief Rent

Mortgage Glossary Mortgage Glossary

Chief Rent

This is a small sum of money in rent payable by the owner of a freehold property to the Lord of the Manor (yes, really!). In the past Chief Rent was payable indefinitely but may now be redeemed by a lump sum payment.

It"s similar to the ground rent payable by a leaseholder.

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