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This is the original version (as it was originally enacted).
(1)This section applies where a right of ownership in land is created by the conversion of a qualifying lease under section 4(1)(a) (such land being referred to in this section as “the converted land”).
(2)The converted land is subject to any subordinate real rights to which the qualifying lease was, immediately before the appointed day, subject.
(3)The converted land is, subject to subsection (4), subject to—
(a)any subordinate real rights (other than any superior lease extinguished by virtue of section 4(1)(c)), and
(b)any other encumbrances,
to which the converted land itself was, immediately before the appointed day, subject.
(4)Any heritable security or proper liferent to which the converted land itself was subject immediately before the appointed day is, on that day and to the extent that the security or liferent affected the land, extinguished.
(5)The converted land—
(a)includes any pertinent (whether express or implied) of the qualifying lease which, by its nature, may be a pertinent of land, and
(b)excludes anything capable of being held as a separate tenement in land (including any right so held by virtue of section 8) which is reserved (whether expressly or by implication) from—
(i)the qualifying lease, or
(ii)any superior lease.
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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills
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