The redemption of ground rents
1Power of certain rent-payers to redeem ground rent
1
Subject to subsection (2) and section 3, a rent-payer may, by complying with the requirements of this Act, redeem the ground rent to which his land is subject.
2
Subject to subsection (4), subsection (1) does not empower a rent-payer to redeem a ground rent at a time when—
a
the land is used wholly for business purposes; or
b
the rent-payer is prohibited by the terms of his title from using the land otherwise than wholly for business purposes.
3
Land is not prevented from being used wholly for business purposes by reason only of the fact that part of it is occupied as a dwelling by a person who is required or permitted to reside there in consequence of his employment or of holding an office.
4
Subsection (2) does not apply to the use of land for the purposes of a building lease or of a fee farm grant for purposes corresponding to those of a building lease.