Part 2Conversion of certain leasehold conditions to real burdens
Conversion of conditions to burdens
16Conversion by nomination: effect
1
This section applies in relation to a qualifying condition where—
a
an entitled person registers a notice in accordance with sections 14 and 15, and
b
immediately before the appointed day the qualifying condition is still enforceable by the entitled person (or that person’s successor).
2
On the appointed day, the qualifying condition becomes a real burden in relation to which—
a
the land identified in pursuance of section 14(3)(c) is the burdened property, and
b
the land identified in pursuance of section 14(3)(d) is a benefited property.