Part 2Conversion of certain leasehold conditions to real burdens
Conversion of conditions to burdens
I119Conversion by agreement: effect
1
This section applies in relation to a qualifying condition where—
a
sections 17(1)(b) and (c) and (6) and 18 are complied with, 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 17(4)(c) is the burdened property, and
b
the land identified in pursuance of section 17(4)(d) is a benefited property.