Rentcharges Act 1977
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Change 1
13 Interpretation.
(1) In this Act— “apportionment”, in relation to a rentcharge, includes an apportionment which provides for the amount apportioned to any part of the land affected by the rentcharge to be nil; “apportionment order” means an order made under section 5(10) above or, where appropriate, an order made by the Upper Tribunal under section 6(2)(b) above; “conveyance” has the same meaning as in section 205(1) of the Law of Property Act 1925; “land” has the same meaning as in section 205(1) of the Law of Property Act 1925; “legal apportionment” and “equitable apportionment” in relation to a rentcharge mean, respectively— (a) any apportionment of the rentcharge which is binding on the rent owner, and (b) any apportionment or exoneration of the rentcharge which is not binding on the rent owner; “owner”, in relation to any land, means a person, other than a mortgagee not in possession, who is for the time being entitled to dispose of the fee simple of the land,whether in possession or in reversion, and includes a person holding or entitled to the rents and profits of the land under a lease or agreement; “redemption certificate” has the meaning given in section 8(1) above; “rent owner”, in relation to a rentcharge, means the person entitled to the rentcharge or empowered to dispose of it absolutely or to give an absolute discharge for the capital value thereof. (2) The provisions of this Act relating to the redemption and apportionment of rentcharges shall apply equally to the redemption and further apportionment of legally apportioned parts of rentcharges. (3) Subject to section 3(4) above, a rentcharge shall be treated for the purposes of this Act as becoming payable on the first day of the first period in respect of which it is to be paid.
13 Interpretation.
(1) In this Act— “apportionment”, in relation to a rentcharge, includes an apportionment which provides for the amount apportioned to any part of the land affected by the rentcharge to be nil; “apportionment order” means an order made under section 5(10) above or, where appropriate, an order made by the Upper Tribunal under section 6(2)(b) above; “conveyance” has the same meaning as in section 205(1) of the Law of Property Act 1925; “land” has the same meaning as in section 205(1) of the Law of Property Act 1925; “legal apportionment” and “equitable apportionment” in relation to a rentcharge mean, respectively— (a) any apportionment of the rentcharge which is binding on the rent owner, and (b) any apportionment or exoneration of the rentcharge which is not binding on the rent owner; “owner”, in relation to any land, means a person, other than a mortgagee not in possession, who is for the time being entitled to dispose of the fee simple of the land,whether in possession or in reversion, and includes a person holding or entitled to the rents and profits of the land under a lease or agreement; “redemption certificate” has the meaning given in section 8(1) above; “rent owner”, in relation to a rentcharge, means the person entitled to the rentcharge or empowered to dispose of it absolutely or to give an absolute discharge for the capital value thereof. (2) The provisions of this Act relating to the redemption and apportionment of rentcharges shall apply equally to the redemption and further apportionment of legally apportioned parts of rentcharges. (3) Subject to section 3(4) above, a rentcharge shall be treated for the purposes of this Act as becoming payable on the first day of the first period in respect of which it is to be paid.
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