PART 5Housing, estate agents and rentcharges: other changes
Rentcharges
138Procedure for redeeming English rentcharges
1
The Rentcharges Act 1977 is amended in accordance with subsections (2) to (5).
2
Before section 8 (but after the italic heading before section 8) insert—
7APower to make procedure for redeeming English rentcharges
1
The Secretary of State may by regulations make provision allowing the owner of land in England affected by a rentcharge to redeem it.
2
Regulations under subsection (1) may not make provision in relation to—
a
a rentcharge that could be redeemed by making an application under section 8(1A),
b
a rentcharge of a kind mentioned in section 2(3) or section 3(3)(a),
c
a rentcharge in respect of which the period for which it is payable cannot be ascertained, or
d
a variable rentcharge.
3
For the purposes of subsection (2)(d) a rentcharge is variable if the amount of the rentcharge will, or may, vary in the future in accordance with the provisions of the instrument under which it is payable.
4
Regulations under subsection (1) may, in particular—
a
provide for the owner of land affected by a rentcharge to be able to redeem a rentcharge by taking specified steps, including making payments determined in accordance with the regulations;
b
require a rent owner or other person to take specified steps to facilitate the redemption of a rentcharge, such as providing information or executing a deed of release;
c
where the documents of title of the owner of land affected by a rentcharge are in the custody of a mortgagee, require the mortgagee to make those documents or copies of those documents available in accordance with the regulations;
d
permit or require a person specified in the regulations to design the form of any document to be used in connection with the redemption of rentcharges under the regulations;
e
provide for a court or tribunal to—
i
determine disputes about or in relation to the redemption of a rentcharge;
ii
make orders about the redemption of a rentcharge;
iii
issue a redemption certificate;
f
make provision corresponding to any of the provisions of section 10(2) to (4).
5
Nothing in this section prevents the redemption of a rentcharge otherwise than in accordance with regulations under subsection (1).
3
In section 8—
a
in subsection (1)—
i
after “land” insert “
in Wales
”
;
ii
for the words from “a certificate” to the end substitute “
a redemption certificate
”
;
b
after subsection (1) insert—
1A
The owner of any land in England affected by a rentcharge which has been apportioned to that land by an apportionment order with a condition under—
a
section 7(2) above, or
b
section 20(1) of the Landlord and Tenant Act 1927,
may apply to the Secretary of State, in accordance with this section, for a redemption certificate.
4
In section 12—
a
in subsection (1), after “this Act” insert “
, apart from regulations under section 7A,
”
;
b
after subsection (1) insert—
1A
Regulations under section 7A are to be made by statutory instrument.
1B
A statutory instrument containing regulations under section 7A may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.
5
In section 13(1), in the definition of “redemption certificate”, for the words from “has” to the end substitute “
means a certificate certifying that a rentcharge has been redeemed
”
.
6
The Leasehold Reform Act 1967 is amended in accordance with subsections (7) and (8).
7
In section 8(4)(b), for “8” substitute “
7A
”
.
8
In section 11—
a
in subsection (6), after “1977” insert “
or the amount that would have to be paid to secure the redemption of that rentcharge in accordance with regulations made under section 7A of that Act
”
;
b
in subsection (7)(a), after “specified” insert “
or required
”
;
c
in subsection (8), for “8” substitute “
7A
”
.