An Act to amend certain enactments relating to the Law of Property and Trustees.
[16th June 1926]
Be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
S-1Conveyances of legal estates subject to certain interests.
1 Conveyances of legal estates subject to certain interests.
(1) Nothing in the Settled Land Act, 1925
of section twenty of that Act from conveying or creating
a legal estate subject to a prior interest as if the land
had not been settled land.
(2) In any of the following cases, namely—
(a
) where a legal estate has been conveyed or
created under subsection one of this section
or under section sixteen of the Settled Land
Act, 1925, subject to any prior interest, or
(b
) where before the first day of January, nineteen
hundred and twenty-six, land has been conveyed
to a purchaser for money or money's
worth subject to any prior interest whether
or not on the purchase the land was expressed
to be exonerated from, or the grantor agreed
to indemnify the purchaser against, such
prior interest
the estate owner for the time being of the land subject
to such prior interest may, notwithstanding any provision
contained in the Settled Land Act, 1925, but
without prejudice to any power whereby such prior
interest is capable of being overreached, convey or
create a legal estate subject to such prior interest as if
the instrument creating the prior interest was not an
instrument or one of the instruments constituting a
settlement of the land.
(3) In this section ‘interest’ means an estate
interest, charge or power of charging subsisting, or
capable of arising or of being exercised, under a settlement
and, where a prior interest arises under the
exercise of a power, ‘instrument’ includes both the
instrument conferring the power and the instrument
exercising it.
S-2Amendment of 15 Geo. 5. c. 20. s. 140 in its application to agricultural holdings.
2 Amendment of 15 Geo. 5. c. 20. s. 140 in its application to agricultural holdings.
2. Section one hundred and forty of the Law of Property Act, 1925 (which relates to the apportionment of conditions on severance), shall have effect as if at the end of subsection (2) thereof the following proviso were inserted:—
‘Provided that where the land demised is an agricultural holding within the meaning of the Agricultural Holdings Act, 1923, the tenant on whom notice to quit is served by the person entitled to a severed part of the reversion may at any time within twenty-eight days of the service of such notice to quit, serve on the persons severally entitled to the severed parts of the reversion a notice in writing to the effect that he accepts the notice to quit as a notice to quit the entire holding given by the persons so severally entitled to take effect at the same time as the original notice; and such acceptance shall have effect as if it were the acceptance of a notice to quit to which paragraph (d
) of subsection (7) of
section twelve of the said Act applies.’
S-3Meaning of ‘trust corporation.’
3 Meaning of ‘trust corporation.’
(1) For the purposes of the Law of Property Act, 1925
, the Settled Land Act, 1925
,
the Trustee Act, 1925
, the Administration of Estates Act, 1925, and the
Supreme Court of Judicature (Consolidation) Act, 1925,
the expression ‘Trust Corporation’ includes the Treasury
Solicitor, the Official Solicitor and any person holding
any other official position prescribed by the Lord Chancellor,
and, in relation to the property of a bankrupt
and property subject to a deed of arrangement, includes
the trustee in bankruptcy and the trustee under the
deed respectively, and, in relation to charitable ecclesiastical
and public trusts, also includes any local or
public authority so prescribed, and any other corporation
constituted under the laws of the United Kingdom
or any part thereof which satisfies the Lord Chancellor
that it undertakes the administration of any such trusts
without remuneration, or that by its constitution it is
required to apply the whole of its net income after
payment of outgoings for charitable, ecclesiastical or
public purposes, and is prohibited from distributing,
directly or indirectly, any part thereof by way of profits
amongst any of its members, and is authorised by
him to act in relation to such trusts as a trust
corporation.
(2) For the purposes of this provision, the expression
‘Treasury Solicitor’ means the solicitor for the affairs
of His Majesty's Treasury, and includes the solicitor for
the affairs of the Duchy of Lancaster.
S-4Date of effective registration and priority notices.
4 Date of effective registration and priority notices.
(1) Any person intending to make an application
for the registration of any contemplated charge, instrument,
or other matter in pursuance of the Land Charges Act, 1925
, or any rule made thereunder, may give a
priority notice in the prescribed form at least two days
before the registration is to take effect, and where such
a notice is given—
(a
) the notice shall be entered in the register to
which the intended application when made will
relate;
(b
) if the application is presented within fourteen
days thereafter and refers in the prescribed
manner to the notice, the registration shall take
effect as if the registration had been made at
the time when the charge, instrument, or
matter was created, entered into, made, or
arose, and the date at which the registration
so takes effect shall be deemed to be the date
of registration; and where any two charges,
instruments, or matters are contemporaneous,
and one (whether or not protected by a priority
notice) is subject to or dependent on the other
which is protected by a priority notice, the
subsequent or dependent charge, instrument,
or matter shall be deemed to have been created,
entered into, or made, or to have arisen after
the registration of the other.
(2) Where a purchaser has obtained an official
certificate of the result of search, any entry which is
made in the register after the date of the certificate
and before the completion of the purchase, and is not
made pursuant to a priority notice entered on the
register before the certificate is issued, shall not, if the
purchase is completed before the expiration of the
second day after the date of the certificate, affect the
purchaser.
(3) In reckoning the number of days under this
section, Sundays and other days when the registry is not
open to the public shall be excluded.
(4) Rules may be made under the said Act—
(a
) for determining the date on which applications
and notices shall be treated for the purposes
of this section as having been made or given;
(b
) for determining the times and order at and
in which applications and priority notices are
to be registered;
(c
) for varying the number of days fixed by this
section;
(d
) for adapting the provisions of this section to
local land charges.
(5) Where rules are made varying the number of
days fixed by this section, this section shall have effect
as if the number so varied were substituted for the
number specified in this section.
S-5Priority of charges for securing further advances.
5 Priority of charges for securing further advances.
5. The following subsection shall be inserted at the end of section thirty of the Land Registration Act, 1925, namely:—
(3) Where the proprietor of a charge is
under an obligation, noted on the register, to
make a further advance, a subsequent registered
charge shall take effect subject to any further
advance made pursuant to the obligation.’
S-6Amendment of 15 Geo. 5. c. 18, s. 13.
6 Amendment of 15 Geo. 5. c. 18, s. 13.
6. Section thirteen of the Settled Land Act, 1925, (which relates to dispositions not taking effect until a vesting instrument is made), shall have effect as if at the end thereof the following proviso were inserted:—
‘Nothing in this section affects the creation or transfer of a legal estate by virtue of an order of the court or the Minister or other competent authority.’
S-7Minor amendments.
7 Minor amendments.
7. The amendments specified in the second column of the Schedule to this Act, being amendments of aminor nature, shall be made in the enactments mentioned in the first column of that Schedule and shall have effect without prejudice to any title acquired by a purchaser, or any registration effected, before the passing of this Act.
S-8Short title, construction and commencement.
8 Short title, construction and commencement.
(1) This Act may be cited as the Law of Property (Amendment) Act, 1926
, and so far as it amends any
Act shall be construed as one with that Act.
(2) The provisions of this Act except sections four
and five shall be deemed to have come into operation
on the first day of January, nineteen hundred and
twenty-six.
S C H E D U L E.
Minor Amendments.
Enactments to be
amended.
Amendments.
Law of Property Act
1922.
S. 43
In subsection (8), for the words ‘shall be
treated as purchase money,’ there
shall be substituted the words ‘shall
be treated as interest upon purchase
money.’
Schedule XIII
Part II.
At the end of paragraph 13 the following
words shall be inserted:—
‘For the purposes of this paragraph
the right of a tenant to demise or
otherwise deal with land without
the licence of the lord shall not be
deemed to be restricted by reason
only that by custom or otherwise
the transaction has to be effected by
surrender and admittance, or by...
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