119Meaning of “on the market”, “sale” and related expressions
(1)In this Part references to “the market” are to the market for houses in Scotland.
(2)A house is on the market when the fact that it is or may become available for sale is, with a view to marketing the house, made public in Scotland by or on behalf of the seller.
(3)A house is to be regarded as remaining on the market until it is sold or taken off the market.
(4)A fact is made public when it is advertised or otherwise communicated (in whatever form and by whatever means) to the public or a section of the public.
(5)In this Part—
“long lease” means a probative lease—
(a)granted for a period exceeding 20 years, or
(b)which contains an obligation on the landlord to renew the lease from time to time at fixed periods, upon the termination of a life or lives, or otherwise so that the total duration could (in terms of the lease, as renewed, and without any subsequent agreement, express or implied, between the persons holding the interests of the landlord and the tenant) endure for a period exceeding 20 years,
“potential buyer” means a person who claims to be interested, or that the person may become interested, in buying a house,
“sale”, in relation to a house, means a disposal, or agreement to dispose, by way of sale of—
(a)the ownership of the house,
(b)the interest of the tenant under a long lease of a house,
and “seller” means a person contemplating such a disposal (and related expressions are to be construed accordingly).