Nonredeemable Ground Rent

Nonredeemable Ground Rent means:
a ground rent in which the leaseholder does not have the right to acquire the lessor's entire interest in the land. The lessor's interest in the land is considered to be, not a security interest, but rather an ownership interest. Payments of nonredeemable ground rent are not interest. Such a payment is deductible as rent if it is a business expense or if it is made for rental property held to produce income.

See also other Tax Terms and Definitions in U.S.A.

redeemable ground rent.