Rent Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Rent, written in plain English, along with examples of how it is used.

What is Rent?

(V) Rent is the action by which the utility or benefits out of any article, property are passed on to another person for a specified compensation either for a limited period or for ever as the parties concerned may decide. Here the ownership lies with the owner and possession with the renter