A “peppercorn payment,” or “peppercorn rent,” is a term used by attorneys for small, below-market-value payments for a property. This is part of a complete episode.
Transcript of “Peppercorn Payment”
Something I learned on the internet in some legal circles, a peppercorn is a small payment.
So let’s say that you’re gonna buy my car, right? But I don’t want to charge you a lot of money. Just, but I need to charge you something just for the sake of the deal. I charge you a dollar.
Yeah, that’s a pepper. That’s a peppercorn payment. Very small amount, not market value.
That word makes my day.
Thank you, Grant.
My pleasure.
Glad to help.
We should do a radio show together.
Make our day.
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