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.