Long Leases (Scotland) Act 2012 (asp 9)

Part 1 S Conversion of long lease to ownership

Conversion of right of lease to ownership S

4 Conversion of right of lease to right of ownership S

(1) On the appointed day—

(a) a qualifying lease becomes the right of ownership of the land in relation to which it is the qualifying lease,

(b) any right of ownership of that land existing immediately before that day is extinguished, and

(c) any superior lease is extinguished.

(2) Subsection (1) is subject to section 62(1) (exempt leases not to convert).

(3) In this Act, a “superior lease” means a lease of land in relation to which, and to the extent that, a qualifying lease is a sublease of that land.

Commencement Information

I1 S. 4 in force at 28.11.2013 by S.S.I. 2013/322, art. 2(a)