The deceptive act orchestrated by Taylor Wimpey resulted in the origination of the ground rent scandal; however, the history of ground rent is as a tale as old as time. If you are considering learning more about ground rent scandal; it is important for you to learn more about the history and origination of ground rent to understand it even better.
The origination of the ground rent was initiated in the times of the Roman, and it has been colonized on the Britain land. The history of ground rent plays an imperative role in the history of leasehold property. Let’s read on to have a better insight on it:Ground rent in Roman times:
During the prime of Roman times—the process of civilization escalated over the course of time, and enabled the landlords to rent their land to supplement their income. It requires the civilians to oblige to a contract, which stated the person responsible for leasing the land would be required to pay a portion of ground rent to the landlord.Ground rent in the dark ages:
When the Roman Empire was no longer extant—Europe entered the era of dark ages, and there is not much information known about ground rent in this phase. It has been concurred that the ground rent might have ceased to exist with the supremacy of the tribal chiefs. The dark era prolonged for few years before the introduction of the newer eras.Ground rent in Victorian Times:
With the advent of the Victorian period, the process of ground rent had been integrated into the common English law. However, the Victorian era modified the use of ground rent, and it also introduced new standards, which are still followed by the countries that practice ground rent. The process might have been reformed over the years but, it still follows the core principles as preached by the ground rent practiced in Victorian Times.