What is the process of rent?

A rentcharge is a rent charged upon land, not being a rent payable to a landlord under a lease (a rent payable to a landlord is known as a rent service). To be a legal rentcharge the rent must be created by deed and must be either perpetual or for a term of years absolute and must be in possession.

The rest of the UK

Rent charges are still created today in some parts of the country upon a sale of land, i.e. the purchaser, instead of paying a lump sum, covenants to pay an annual sum of money for a fixed term of years or in perpetuity and the obligation to pay this sum is charged upon the land. Since 2011 a rentcharge may be charged directly upon land or it may be charged upon another rentcharge. c.