Law of Property Act 1922

36 Power on dispositions to impose restrictions and reserve easements, and as to valuation of timber on sale.

(1) On a sale or other disposition or dealing under the powers of the Acts—

(a) Any easement, right, or privilege over or in relation to the land disposed of, or any part thereof, may be reserved for the benefit of the settled land or any part thereof, including, in the case of an exchange, the land taken in exchange; and

(b) Any restriction with respect to building on or other user of land, or with respect to mines and minerals, or with respect to or for the purpose of the more beneficial working thereof, or with respect to any other thing, may be imposed and made binding, as far as the law permits, by covenant, condition or otherwise, on the tenant for life and the settled land, or any part thereof, or on the other party and any land disposed of to him ; and

(c) The whole or any part of any capital or annual sum (and in the case of an annual sum whether temporary or perpetual) charged on or payable out of the land disposed of, or any part thereof, and other land subject to the settlement, may, as between the tenant for life and his successors in title, and the other party and persons deriving title under or in succession to him (but without prejudice to the rights of the person entitled to such capital or annual sum) be charged exclusively on the land disposed of, or any part thereof, or such other land as aforesaid, or any part thereof, in exoneration of the rest of the land on or out of which such capital or annual sum is charged or payable.

(2) Subsection (1) of this section applies to dispositions or dealings before as well as after the commencement of this Act.

(3) A sale of land may be made subject to a. stipulation that all or any of the timber and other trees, pollards, tellers, underwood, saplings and plantations on the land sold shall be taken by the purchaser at a valuation, and the amount of the valuation shall form part of the price of the land, and shall be capital money accordingly.

(4) In favour of a purchaser, a sale made before the commencement of this Act shall not be deemed to have been invalidated by reason only of any such stipulation as mentioned in the last preceding subsection, provided that the amount of the valuation was paid to the trustees of the settlement or into court.

(5) Subsection (6) of section four of the [45 & 46 Vict. c. 38.] Settled Land Act, 1882, is hereby repealed.

(6) Subsection (1) of section seventeen of the Settled Land Act, 1882, shall have effect, and shall be deemed always to have had effect, as if the words " or mining " had not been contained therein, and the words " or other authorised disposition " had been inserted therein after the word " lease. "