laudemium

laudemium (law-dee-mee-[schwa]m), n. [Law Latin] Hist. A sum paid to a landowner by a person succeeding to a particular form of land contract by gift, devise, exchange, or sale; HERIOT. • The payment equaled 2% of the purchase money, and was paid to the landowner for acceptance of the successor. — Also termed (in old English law) acknowledgment money. See EMPHYTEUSIS.

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