PART 5PROVISIONS APPLYING ONLY TO SECURE CONTRACTS
CHAPTER 4DEALING
Transfers
114Transfer to potential successor
1
The contract-holder under a secure contract may transfer the contract as described in this section, but only if the landlord consents.
2
The contract-holder may transfer the contract to—
a
a potential successor, or
b
if there are two or more potential successors, all of the potential successors who wish to be included in the transfer.
3
If there is a sole contract-holder a potential successor is a person who, under section 74, would be qualified to succeed the contract-holder if the contract-holder died immediately before the transfer.
4
If there are joint contract-holders a potential successor is a person who, under section 74, would be qualified to succeed a joint contract-holder if—
a
the joint contract-holder died immediately before the transfer, and
b
when the joint contract-holder died he or she was the sole contract-holder.
5
This section is a fundamental provision which is incorporated as a term of all secure contracts.
115Transfer to a potential successor: landlord’s consent
Where a landlord refuses consent or consents subject to conditions to a transfer described in section 114, what is reasonable for the purposes of section 84 (landlord’s consent) is to be determined having regard to Schedule 6.