Law of Property (Amendment) Act 1924

Amendments of Schedules XII and XIII.

4 The Twelfth Schedule to the principal Act is hereby amended as follows :—

(1) In sub-paragraph (6) of paragraph (8) the words “or a mortgagee has been admitted,” and “or would have had such right if a mortgagee had not been admitted” are hereby repealed, and, in lieu of the last-mentioned words, the words “otherwise than as mortgagee ” shall be inserted ;

In the same sub-paragraph the words “(being a trustee) ” shall be substituted for “(not being a mortgagee) ” ; and the words “if any ” shall be inserted after " personal representative. "

In the same sub-paragraph the words “a better right to be admitted than the devisee or customary heir ” shall be substituted for “the best right to be admitted, ” where those words secondly occur.

(2) The following sub-paragraphs shall be inserted at the end of the said paragraph :—

“(f) If the copyholder in fee is a mortgagee the freehold estate in fee simple shall (subject to the terms of years absolute of any mortgagees) vest in the person entitled to the equity of redemption:

(g) If a copyholder in fee, or other person entitled to an interest corresponding to a legal estate, is a trustee for a corporation or other person absolutely and beneficially entitled, the freehold estate in fee simple, or other corresponding legal estate (as the case may be) shall vest in the corporation or other person so entitled:

(h) If a person has, under the Limitation Acts, acquired a customary estate corresponding to a legal estate, then a legal estate corresponding to the customary estate so acquired shall vest in him.”

(3) In paragraph 13 of Part II. of the Thirteenth Schedule to the principal Act:—

(a) The words “forfeitures and all other” shall be substituted for “all ” ;

(b) The words “or where the copyhold interest liable to ” forfeiture is less than a customary fee simple or is " subject to a lease binding on the lord twenty per cent. “of the annual value of such copyhold interest to be ” ascertained in such manner as the Minister may “determine to be proper” shall be inserted after the words " paragraphs 3 and 4. "