(1)Subject to subsection (6) below, an owner of land which is a benefited property by virtue of such rule of law as is mentioned in section 49(1) of this Act may, during the period of ten years beginning with the appointed day, execute and duly register, in (or as nearly as may be in) the form contained in schedule 7 to this Act, a notice of preservation as respects the land; and if the owner does so then the land shall continue to be a benefited property after the expiry of that period (in so far as the burdened property, the benefited property and the real burden are the burdened property, the benefited property, and the real burden identified in the notice of preservation).
(2)The notice of preservation shall—
(a)identify the land which is the burdened property (or any part of that land);
(b)identify the land which is the benefited property (or any part of that land);
(c)where the person registering the notice does not have a completed title to the benefited property, set out the midcouples linking that person to the person who last had such completed title;
(d)set out the terms of the real burden; and
(e)set out the grounds, both factual and legal, for describing as a benefited property the land identified in pursuance of paragraph (b) above.
(3)For the purposes of subsection (1) above, a notice is, subject to section 116 of this Act, duly registered only when registered against both properties identified in pursuance of subsection (2)(a) and (b) above.
(4)A person submitting any notice for registration under this section shall, before doing so, swear or affirm before a notary public that to the best of the knowledge and belief of the person all the information contained in the notice is true.
(5)For the purposes of subsection (4) above, if the person is—
(a)an individual unable by reason of legal disability, or incapacity, to swear or affirm as mentioned in that subsection, then a legal representative of the person may swear or affirm;
(b)not an individual, then any person authorised to sign documents on its behalf may swear or affirm;
and any reference in that subsection to a person shall be construed accordingly.
(6)Subsection (1) above does not apply as respects a real burden which has been imposed under a common scheme affecting both the burdened and the benefited property.
(7)This section is subject to section 115 of this Act.