Law of Property Act 1925

7 E+W Nothing in this Part of this Schedule shall operate—

(a) To vest in a mortgage of a term of years absolute any nominal leasehold reversion which is held in trust for him subject to redemption; or

(b) To vest in a mortgagee any legal estate except a term of years absolute; or

(c) To vest in a person entitled to a leasehold interest, as respects such interest, any legal estate except a term of years absolute; or

(d) To vest in a person entitled to a rentcharge (either perpetual or held for a term of years absolute) as respects such rentcharge, any legal estate except a legal estate in the rentcharge; or

(e) To vest in a person entitled to an easement, right or privilege with reference thereto, any legal estate except a legal estate in the easement, right or privilege; or

(f) To vest any legal estate in a person for an undivided share; or

(g) To vest any legal estate in an infant; or

(h) To affect prejudicially the priority of any mortgage or other incumbrance or interest subsisting at the commencement of this Act; or

(i) To render invalid any limitation or trust which would have been capable of taking effect as an equitable limitation or trust; or

(j) To vest in a purchaser or his personal representatives any legal estate which he has contracted to acquire and in regard to which a contract, including an agreement to create a legal mortgage, is pending at the commencement of this Act, although the consideration may have been paid or satisfied and the title accepted, or to render unnecessary the conveyance of such estate; or

(k) To vest in the managing trustees or committee of management of a charity any legal estate vested in the Official Trustee of Charity Lands; or

(l) To vest in any person any legal estate which failed to pass to him by reason of his omission to be registered as proprietor under the M1 Land Transfer Acts, 1875 and M2 1897, until brought into operation by virtue of the M3 Land Registration Act, 1925.

[F1 (m) To vest in any person any legal estate affected by any rent covenants or conditions if, before any proceedings are commenced in respect of the rent covenants or conditions, and before any conveyance of the legal estate or dealing therewith inter vivos is effected, he or his personal representatives disclaim it in writing signed by him or them.]

Textual Amendments

F1 Para. 7(m) added by Law of Property (Amendment) Act 1926 (c. 11), Sch.

Marginal Citations

M1 1875 c. 87.

M2 1897 c. 65.

M3 1925 c. 21.