Perpetual money
The perpetual money or the perpetual interest ( census perpetuus, redditus perpetuo duraturi ) was an interest on a loan in the Middle Ages and in the early modern period that could not be canceled by the creditor and was therefore irreversible, unless it was expressly contractually agreed otherwise. Mostly it was a question of the payment of a cash rent for a capital insured on a piece of property, in the sense of the time a real burden . As a rule, only the property owner ( Giltmann , the pensioner) - z. B. when repaying the capital - cancel the perpetual money. The perpetual allowance was only transferable with the consent of the property owner. In Munich , perpetual money books can be traced back to 1484.
literature
- Perpetual money. In: Reinhard Heydenreuter , Wolfgang Pledl, Konrad Ackermann : From burn-off to Zentgraf. Dictionary of regional history and local research in Bavaria. 2nd Edition. Volk Verlag, Munich 2009, ISBN 978-3-937200-65-1 , p. 66f.