Compulsory Purchase Act 1965

24 Power to sell in consideration of a rentcharge

(1) It shall be lawful for—

(a) a person having an estate in fee simple in the land, or entitled to dispose absolutely for his own benefit of the land, or

(b) a person who would have no power to sell or convey but for the provisions of Schedule 1 to this Act,

to sell and convey any of the land subject to compulsory purchase to the acquiring authority in consideration of an annual rentcharge payable by the acquiring authority.

(2) The annual rent so payable shall be secured in such manner as may be agreed between the parties, and shall be payable by the acquiring authority as the rent becomes due.

(3) If at any time any such rent is not paid within thirty days after it becomes due, and after demand in writing, the person to whom the rent is payable may either recover it from the acquiring authority by proceedings in the High Court or he may levy it by distress and sale of the goods and chattels of the acquiring authority.

Where distress is so levied, any balance remaining after satisfying the amount due, and the expenses of the distress and sale, shall be returned, on demand, to the acquiring authority.

(4) On a sale under subsection (1)(b) of this section paragraph 5 of Schedule 1 to this Act shall apply.

(5) If the acquiring authority are empowered by any Act relating to the undertaking and passed after 20th August 1860 (the date of passing of the [1860 c. 106.] Lands Clauses Consolidation Acts Amendment Act 1860) to borrow money to an amount not exceeding a prescribed sum, then in the event of the acquiring authority agreeing with any person under the powers of this Act for the purchase of any land in consideration of a payment of a rentcharge, the powers of the acquiring authority for borrowing money shall be reduced by an amount equal to twenty years purchase of any rent charged for the time being payable.

(6) The provisions of this section are without prejudice to section 39(2) of the [1925 c. 18.] Settled Land Act 1925 or any other enactment under which a sale may be made in consideration of a rentcharge.