What is "rentcharge"

A rentcharge is an annual sum paid by the owner of freehold land to the owner of the rentcharge, a person who need have no other legal interest in the land. They are often known as "chief rents" in the north west of England but the term " ground rent" is used in many parts of the country to refer to either a rentcharge or a rent payable on leasehold land. This is confusing as a true ground rent is a sum payable in relation to land held under a lease. As a result, it is important to know the status of the land for which, an annual sum is paid.