Part 2Conversion of certain leasehold conditions to real burdens
Conversion of conditions to burdens
17Conversion by agreement
I31
An entitled person may, before the appointed day—
a
serve notice on the tenant under the qualifying lease, that the entitled person seeks to enter into an agreement with the tenant under this section—
i
prospectively converting a qualifying condition into a real burden,
ii
prospectively nominating the qualifying land, or any part of it, as the burdened property in relation to such burden, and
iii
prospectively nominating land mentioned in subsection (2), or any part of that land, as a benefited property in relation to such burden,
b
subject to subsection (5), enter into such an agreement with the tenant, and
c
register that agreement.
I32
The land referred to in subsection (1)(a)(iii) is land, other than the qualifying land, which—
a
if the land is not subject to a qualifying or exempt lease, the entitled person is owner of, or
b
if the land is subject to such a lease, the entitled person is tenant of under that lease.
I33
Where the entitled person holds the entitlement to enforce the qualifying condition otherwise than as landlord—
a
the land referred to in subsection (2)(a) is the land to which the entitlement to enforce the condition attaches, and
b
the lease referred to in subsection (2)(b) is the lease to which the entitlement to enforce the condition attaches.
4
The notice referred to in subsection (1) must—
I3b
set out the title of the entitled person to enforce the qualifying condition,
I3c
identify the land nominated as the burdened property,
I3d
identify the land nominated as a benefited property,
I3e
set out the terms of the qualifying condition, and
I3f
set out the terms of any counter-obligation to the qualifying condition if it is a counter-obligation enforceable against the entitled person.
I35
If the entitled person and the tenant think fit they may, by the agreement, modify the qualifying condition or any counter-obligation to the qualifying condition if it is a counter-obligation enforceable against the entitled person (or both the qualifying condition and any such counter-obligation).
I36
An agreement mentioned in subsection (1)(b) must be a written agreement which—
a
expressly states that it is made under this section, and
b
includes all the information, other than that relating to service, required to be set out in completing the notice the form of which is prescribed under subsection (4)(a).
I37
This section is subject to section 36.