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English definition of “peppercorn rent”

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peppercorn rent

noun [C]
 
 
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.
Translations of “peppercorn rent”
in Chinese (Traditional) 象徵性租金,極低的租金…
in Chinese (Simplified) 象征性租金,极低的租金…
(Definition of peppercorn rent from the Cambridge Business English Dictionary © Cambridge University Press)
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