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Settled Land Act 1925
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53 Acceptance of leases.E+W
(1)A tenant for life may accept a lease of any land, or of any mines and minerals or of any easement, right, or privilege, convenient to be held or worked with or annexed in enjoyment to the settled land, or any part thereof, for such period, and upon such terms and conditions, as the tenant for life thinks fit:
Provided that no fine shall be paid out of capital money in respect of such lease.
(2)The lease shall be granted to the tenant for life or statutory owner, and shall be deemed a subsidiary vesting deed, and the statements and particulars required in the case of subsidiary vesting deeds shall either be inserted therein or endorsed thereon.
(3)The lease may contain an option to purchase the reversion expectant on the term thereby granted.
Modifications etc. (not altering text)
C1S. 53(2) extended by Leasehold Reform Act 1967 (c. 88), s. 6(2)(b)
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