Search Legislation

Leeds Supertram Act 1993

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)
 Help about opening options

Opening OptionsExpand opening options

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

32Compensation in case of land subject to mortgage

Where an interest in land is subject to a mortgage—

(a)any compensation which is payable under this Act in respect of the depreciation in value of that interest shall be calculated as if the interest were not subject to the mortgage;

(b)a claim for the payment of any such compensation may be made by any mortgagee of the interest under a mortgage made before the happening of the event giving rise to the compensation, but without prejudice to the making of a claim by any other person;

(c)a mortgagee shall not be entitled to claim any such compensation in respect of his interest as such; and

(d)any such compensation payable in respect of the interest subject to the mortgage shall be paid to the mortgagee or, where there is more than one mortgagee, to the first mortgagee, and shall in either case be applied by him as if it were proceeds of sale.

Back to top

Options/Help