[F158A Priority of interests on grant of new lease.E+W
(1)Where a lease granted under section 56 takes effect subject to two or more interests to which the existing lease was subject immediately before its surrender, the interests shall have the same priority in relation to one another on the grant of the new lease as they had immediately before the surrender of the existing lease.
(2)Subsection (1) is subject to agreement to the contrary.
(3)Where a person who is entitled on the grant of a lease under section 56 to rights of occupation in relation to the flat comprised in that lease was entitled immediately before the surrender of the existing lease to rights of occupation in relation to the flat comprised in that lease, the rights to which he is entitled on the grant of the new lease shall be treated as a continuation of the rights to which he was entitled immediately before the surrender of the existing lease.
(4)In this section—
“the existing lease”, in relation to a lease granted under section 56, means the lease surrendered on the grant of the new lease, and
“rights of occupation” has the same meaning as in the M1Matrimonial Homes Act 1983.]
Textual Amendments
F1S. 58A inserted (1.10.1996) by 1996 c. 52, s.117; S.I. 1996/2212, art. 2(2)
Marginal Citations