Part III Mortgages, Rentcharges, and Powers of Attorney

Rentcharges

F1120AInterpretation

(1)

For the purposes of sections 120B to 122 a rentcharge is “regulated” if it is of a kind that could not be created in accordance with section 2 of the Rentcharges Act 1977.

(2)

In sections 120B to 120D—

“charged land” means the land which is, or the land the income of which is, charged by the rentcharge;

“demand for payment” means a notice under section 120B(1)(a) demanding payment of regulated rentcharge arrears;

“landowner”, in relation to a sum that is charged by rentcharge, means the person who holds the charged land;

“regulated rentcharge arrears” means a sum charged by a regulated rentcharge that is unpaid after the time appointed for its payment;

“rent owner”, in relation to a sum that is charged by rentcharge, means the person who holds title to the rentcharge.