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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>A friend in London once explained to me what a “leasehold” meant—but I’ve forgotten the details. It seems peculiar to the UK (or perhaps just England?), where you “own” a flat in a building but you still have to pay some feudal lord in (say) Cornwall) a nominal rent for the land on which the building in which your flat is sits. Is that right? </span><span style='font-size:12.0pt;font-family:"Segoe UI Emoji",sans-serif'>😉</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p></o:p></span></p><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> Vwoolf <vwoolf-bounces+mhussey=verizon.net@lists.osu.edu> <b>On Behalf Of </b>Stuart N. Clarke via Vwoolf<br><b>Sent:</b> Wednesday, July 15, 2020 7:34 AM<br><b>To:</b> vwoolf@lists.osu.edu<br><b>Subject:</b> [Vwoolf] The Ramsays in Skye - owning or renting?<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>As I was saying, “I was only talking about England & Wales – not even Scotland – far less the US. (Perhaps I should have been talking about Scotland – which I’m not equipped to do – since the Ramsays’ house is in Skye!)”.<o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>One of my favourite Scots words is “feu” = <o:p></o:p></span></p></div><h3 style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:11.25pt;margin-left:0in;background:white;ORPHANS: 2;WIDOWS: 2;font-variant-ligatures: normal;font-variant-caps: normal;-webkit-text-stroke-width: 0px;text-decoration-style: initial;text-decoration-color: initial;word-spacing:0px' id=eid4381940><span style='font-size:15.0pt;font-family:"Georgia",serif;color:#333333;font-weight:normal'>in modern use, a perpetual lease for a fixed rent</span><span style='color:black'><o:p></o:p></span></h3><div><div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>Difficult for the outsider to grasp how renting perpetually is different *in practice* from owning. Surely after x years the rent will = 0? Even less than “</span><span style='font-size:16.0pt;font-family:"Times New Roman",serif;color:black'>twopence half-penny”.</span><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>Stuart</span><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;color:black'>(Day 120)</span><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'> <o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black'> <o:p></o:p></span></p></div></div></div></div></div></body></html>