PART IIGROUND RENTS AND CERTAIN OTHER PAYMENTS

The redemption of ground rents

Initiation of redemption procedure8

1

A rent-payer who wishes to redeem his ground rent shall serve on the rent-owner a notice (a “redemption notice”) of his intention to do so.

2

A redemption notice must specify—

a

where the redemption money is not payable by instalments, the date on which the ground rent is to be redeemed; or

b

where that money is payable by instalments, the number of instalments and the dates on which they are to be payable,

intended by the rent-payer, and that specified date, or, in the case of sub-paragraph (b), the first of those specified dates, (or the date to which, in either case, it is varied under paragraph (4)), is the redemption date.

3

The specified redemption date must be not less than 6 weeks nor more than 8 weeks after the date of service of the redemption notice.

4

The specified redemption date and the specified number of instalments and other specified dates referred to in paragraph (2)(b) may be varied by agreement in writing between the rent-payer and the rent-owner; and such an agreement may be made—

a

before the specified redemption date; or

b

after that date, so long as—

i

the redemption notice has neither been withdrawn nor ceased to have effect under Article 11, and

ii

no lodgment has been made with the Registrar under Article 14.

5

Except where it is withdrawn or ceases to have effect under Article 11, a redemption notice served by a rent-payer enures for his benefit and the benefit of his successors in title, whether or not there is any change in the rent-owner.

6

Where two or more lands held under different titles subject to ground rents payable to the same rent-owner are contiguous (or, in the case of more than two, every one is contiguous to some other) and are occupied by the same rent-payer, they may, for the purposes of this Order, be treated as one land and the aggregate of the ground rents may be treated as one ground rent.

7

Where land comprised of two or more parcels vested in separate persons is subject to a single ground rent, both or all of those persons may combine to redeem the ground rent.

8

In this Article “specified” means specified in a redemption notice.