Meaning of “peppercorn rent” in the English Dictionary

british dictionary

(Definition of “peppercorn rent” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"peppercorn rent" in Business English

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peppercorn rentnoun [ C ]

uk us UK

LAW, PROPERTY a very small amount of money that is paid by someone who is renting a building or piece of land so that the arrangement between them and the owner of the property is legal:

The charity secured a 20-year lease on the building at a peppercorn rent of £1.

(Definition of “peppercorn rent” from the Cambridge Business English Dictionary © Cambridge University Press)

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