Landlord and Tenant Act 1954

Expenses and receipts: mortgages, settlements, etc. E+W

5 E+W Any amount paid by a mortgagee in respect of expenses incurred in carrying out initial repairs in accordance with an agreement or determination under Part I of this Act, or in respect of any payment made in pursuance of a liability imposed by paragraph 12 of the First Schedule to this Act, shall be treated as if it were secured by the mortgage, with the like priority and with interest at the same rate as the mortgage money, so however that (without prejudice to the recovery of interest) any such amount shall not be recoverable from the mortgagor personally.

6 E+W The purposes authorised for the application of capital money by section seventy-three of the M1 Settled Land Act 1925 F1 . . . and by section twenty-six of the M2 Universities and College Estates Act 1925, and the purposes authorised by section seventy-one of the Settled Land Act 1925 F1 . . . and by section [F2 thirty] of the Universities and College Estates Act 1925, as purposes for which moneys may be raised by mortgage, shall include the payment of any such expenses as are mentioned in the last foregoing paragraph and the making of any such payment as is mentioned in that paragraph:

Provided that the like provisions shall have effect as to the repayment of capital money applied by virtue of this paragraph as have effect in the case of improvements authorised by Part II of the Third Schedule to the Settled Land Act 1925 (which specifies improvements the cost of which may be required to be replaced out of income).

Textual Amendments

F1 Words in Sch. 2 para. 6 repealed (1.1.1997) by 1996 c. 47, s. 25(2), Sch. 4 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2

F2 Word substituted by Universities and College Estates Act 1964 (c. 51), Sch. 3 Pt. II

Marginal Citations

M1 1925 c. 18.

M2 1925 c. 24.