Section 116. Interpretation

116. Interpretation.— (1) A rent-free grant means a grant by a landlord of a right to hold land rent-free with or without consideration. (2) A grant of land at a favourable rate of rent means a grant held at a rent which, at the time when such grant was made, was below the rent generally payable by a tenant-at-will for land of the same class in the neighbourhood. (3) A village service grant means a grant made rent-free or at a favourable rate of rent on condition of rendering any service to the village community.