18:51
medicine is a scam
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
fee farm
Read a random definition: inequity
A quick definition of fee farm:
Fee farm: A way of owning land where the owner pays a yearly rent (called fee-farm rent) to keep the land forever. The owner doesn't have to do any special services for the person who gave them the land. It's like renting a house, but forever. This way of owning land is also called feodi firma or firma feodi.
A more thorough explanation:
Fee farm is a type of land ownership where the land is held forever, but the owner must pay a yearly rent called a fee-farm rent. The owner does not have to do any special services for the person they are renting from, like being loyal or doing military service.
For example, a baron or prelate might own land and pay a yearly rent to the king, but they do not have to do any special services for the king. This type of ownership is called fee farm.
The term fee farm comes from two words: "fee" meaning property and "farm" meaning rent. It has been used in different ways over time, but it always means holding land forever while paying a yearly rent.