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Duchy of Lancaster Act 1787
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- Acts of the Parliament of Great Britain
- 1787 c. 34 (Regnal. 27_Geo_3)
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II.Authority given to sell the said Rents at any prices not under the following Rates, viz. For Rents upwards of 50p per Ann. 24 Years Purchase; 25p and under 50p 22 Years Purchase; 5p and under 25p 20 Years Purchase.
III.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Money arisen or to arise by the Sale of the said Rates, may be applied in Satisfaction of any sums charged upon His Majesty’s Lands on Account of Inclosures in the Duchy of Lancaster, &c. Bank to permit any Person authorised by the Chancellor and Council of the said Duchy, to transfer the Stock standing in the Name of the Duchy. Chancellor and Council may retain Money arising by Sale of the Rates to answer Expences.
V.After Payment of all Costs and Charges before mentioned, the Residue of Purchase Money to be laid out, &c. according to recited Act.
VI.Agreements entered into by Order of the Chancellor and Council with Mortgagees, &c. to be valid.
VII.Interest due to His Majesty under any Agreement in pursuance of this Act may be distrained for as for Rent.
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