Quitrent

/ˈkwɪtrɛnt/ noun

Definition

A small annual rent paid by a property owner to acknowledge the superior title of a feudal lord or government. Payment of quitrent 'quits' the tenant of other feudal obligations and services.

Etymology

From 'quit' (meaning to discharge or free from obligation) and 'rent.' Developed in medieval England as feudal lords converted labor services into monetary payments, allowing tenants to be 'quit' of personal service requirements.

Kelly Says

Quitrent is like paying a tiny annual fee to keep the government from claiming your land belongs to them! Some U.S. states still collect quitrents today as a historical remnant - you might be paying medieval tribute without even knowing it.

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