15:40
nahhhhh we been together since 10th grade
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Simple English definitions for legal terms
firma feodi
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A quick definition of firma feodi:
Firma Feodi: A type of land ownership where the land is held forever and a yearly rent is paid without having to do any special services. This rent is called a fee-farm rent. It is also known as feodi firma. This type of ownership is different from other types where the owner has to do special services like military service. The term comes from two words, feoh meaning property and feorm meaning rent. It means that the land is let to farm forever.
A more thorough explanation:
Firma Feodi is a type of tenure where land is held in perpetuity at a yearly rent, without any other services than those in the feoffment. It is also known as Fee Farm.
For example, a person may own a piece of land and lease it to another person for a yearly rent. The lease may be for a long period of time, even for perpetuity, but the owner of the land will still receive a yearly rent from the lessee. This type of tenure is called Firma Feodi or Fee Farm.
The term Firma Feodi has its roots in Old English and Norman languages, where the words "feoh" (property) and "feorm" (rent) were used. To hold land in Firma Feodi means to hold it heritably, perpetually, at a rent.