PART 13BLIGHTED LAND
Mortgagees
348Power of mortgagee to serve blight notice
(1)
Where a person claims that the conditions in subsection (3) are met, the person may serve a blight notice under this section on an appropriate authority.
(2)
Regulations must specify the form of the blight notice.
(3)
The conditions are that—
(a)
the whole or part of a hereditament or agricultural unit consists of blighted land,
(b)
the person is entitled as mortgagee (by virtue of a power that has become exercisable) to sell an interest in the hereditament or unit, giving immediate vacant possession of the land,
(c)
one of the following applies—
(i)
the person has made reasonable endeavours to sell that interest and, because the hereditament, unit or part consisted or was likely to consist of blighted land, has been unable to sell the qualifying interest except at a reduced price,
(ii)
the land falls within paragraph 18, 19, 21, 23, 25 or 27 of Schedule 19 and the powers of compulsory acquisition remain exercisable, or
(iii)
the land falls within paragraph 24 or 26 of Schedule 19, and
(d)
the interest could have been the subject of a blight notice served under section 324 by the mortgagor on—
(i)
the day notice is served under this section, or
(ii)
any day in the preceding 6 months.
(4)
In subsection (3)(c)(i) “reduced price” means a price that is substantially lower than that for which the interest might reasonably have been expected to sell if no part of the hereditament or unit consisted, or were likely to consist, of blighted land.
(5)
The blight notice must be served in respect of the whole of the mortgagee’s interest in the hereditament or unit (whether that interest is in the whole or part of the hereditament or unit).