AN EXAMINATION OF THE PROBLEM AND PROSPECTS OF THE ADMINISTRATION OF GROUND RENT
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AN EXAMINATION OF THE PROBLEM AND PROSPECTS OF THE ADMINISTRATION OF GROUND RENT
ABSTRACT
The ground rent has, of course, become an established component of current leasing practise, but landoners were only recently handed leases at fixed rentals by the government without review in the 1950s. Land is a free gift from nature, and no action of man brought it into being, hence it is essential for man to pay rent for the use of such property.
The government encourages ground rent in order to invest the money in societal development while also limiting land use. The significance of ground rent to the government cannot be overstated.
In order to meet the predetermined goal. This project was broken down into five chapters. In addition, the researcher developed certain objectives that will aid in the achievement of the given goal, as well as gave valuable recommendations.
CHAPITRE ONE
6.0INTRODUCTION
6.1 BACKGROUND OF THE STUDY
Many residential estates were developed in the mid-nineteenth century by developers who held a 99-year ground rent. Although ground rent had been used previously, it was not until this period that it became widely used. These agreements assigned complete responsibility for development and growth.
Of fact, the ground rent has become an established feature of modern leasing practise, but it was only in the 1950s that landowners were granted leases at fixed rents by the government without review.
The term groun rent can be defined as a rent paid by the owner of land to the government in exchange for the use of the land. A ground rent, whether it is reviewed or not, may be the final practical technique for the government to use when capital injection is required.
Land is a free gift from nature, and no human work brought it into being; therefore, it is essential for man to pay rent for the use of such property. The government encourages ground rent in order to invest the money in societal development while also limiting land use.
However, in Enugu State, the Ministry of Lands was charged with the job of assessing, reviewing, imposing, and collecting ground rent in order to encourage future development and to check and control land use.
It is with great regret that the administration of the ground rent has been unable to live, and the imposition and collection of the rent is not expected to be problematic.
As a result, the researcher seeks to investigate the issues and prospects of ground rent administration in Enugu State in order to provide a remedy to the problem when it is discovered.
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