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the redemption notice has neither been withdrawn nor ceased to have effect under Article 11, and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Except where it is withdrawn or ceases to have effect under Article 11, a redemption notice served by a rent-payer enures for his benefit and the benefit of his successors in title,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.