A grassum is an additional payment made by a tenant to a landlord in Scottish law, apart from the regular rent. It can be paid in advance or simultaneously with the rent. Nevertheless, if the land is entailed, the current heir must not exceed the annual rent and profits, as grassums can negatively impact future heirs.
In Scots law, a grassum is a lump sum payment made by a tenant to a landlord at the beginning of a lease, in addition to the monthly rent. It is made to secure the lease and is typically non-refundable. There are limitations on how much a landlord can charge for a grassum, and the rent cannot be reduced to an unreasonable level. If the property is under an entail, the heir in possession must not take more than the annual rent and profits, leaving enough for future heirs.
Grassum is a term used in property law to refer to a payment made by a tenant to a landlord in exchange for the right to occupy the property.
No, grassum is different from a security deposit. A security deposit is typically held by the landlord to cover any damages or unpaid rent, while grassum is a payment made to secure the right to occupy the property.
It depends on the terms of the lease agreement. Some leases may stipulate that the grassum is non-refundable, while others may allow for a partial or full refund under certain circumstances.
The amount of grassum is typically negotiated between the landlord and tenant and is based on factors such as the rental value of the property, the length of the lease, and the financial stability of the tenant.
In most cases, the grassum amount is set at the beginning of the lease term and cannot be increased unless both parties agree to modify the lease agreement.
No, grassum is not intended to be used for rent payments. It is a separate payment made to secure the right to occupy the property.
If the lease is terminated early, the terms of the lease agreement will dictate whether the grassum is refundable and under what circumstances.
Yes, if the lease agreement allows for it, a landlord may withhold all or a portion of the grassum to cover damages to the property caused by the tenant.
Some jurisdictions may have laws or regulations that limit the amount of grassum that can be charged, so it’s important to be aware of any applicable laws in your area.
If a tenant believes that the grassum amount is unfair or unreasonable, they may attempt to negotiate with the landlord or seek legal advice to determine their options for disputing the amount.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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