117Meaning of “major interest” in landU.K.
(1)References in this Part to a “major interest” in land shall be construed as follows.
(2)In relation to land in England or Wales, the references are to—
(a)an estate in fee simple absolute, or
(b)a term of years absolute,
whether subsisting at law or in equity.
(3)In relation to land in Scotland, the references are to—
(a)the interest of an owner of land, or
(b)the tenant’s right over or interest in a property subject to a lease.
Until the appointed day for the purposes of the Abolition of Feudal Tenure etc. (Scotland) Act 2000 (asp 5), the reference in paragraph (a) to the interest of the owner shall be read, in relation to feudal property, as a reference to the estate or interest of the proprietor of the dominium utile.
(4)In relation to land in Northern Ireland, the references are to—
(a)any freehold estate, or
(b)any leasehold estate,
whether subsisting at law or in equity.
Commencement Information
I1Pt. 4 wholly in force at Royal Assent subject to Sch. 19, see s. 124, Sch. 19 para. 1(1)