quitrenter

plural quitrenters · alternative quit-renter

1. One who possesses land in return for the payment of a quitrent.

   1 more example

   According to the proposals that Deputy Governor Lawrie drew up for the Scots, any tenant who was willing to transport himself to East Jersey would be granted both land and stock for fourteen years, paying half of the increase on the stock to the proprietors during the second half of that term. As an inducement to attract settlers, the proprietors promised to grant the land outright to the tenant at the end of the fourteen years, subject only to the payment of an annual quitrenter. By offering such incentives, the proprietors created a social position, the quitrenter, that did not exist in Northeastern Scotland. Nonetheless, the creation of quitrenters would require fourteen years’ residence in the colony and thus posed no immediate threat to the proprietary plan.

   2014, Ned C. Landsman, Scotland and Its First American Colony, 1683-1765, Princeton University Press, →ISBN, page 111