Legal Definitions - pernancy

PERNANCY

Pernancy (pronounced puh-r-nun-see) is a historical term that refers to the act of taking or receiving profits from an estate.

One example of pernancy is when a landlord collects rent from their tenants. The landlord is pernancing the profits from their property.

Another example is when a business owner receives income from their company. The business owner is pernancing the profits from their business.

These examples illustrate the definition of pernancy because in both cases, someone is receiving profits or income from something they own or manage.