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.

[Blacks Law 8th]