Queensland Consolidated Acts
[Search this Act]
PROPERTY LAW ACT 1974 - SECT 102
Abolition of interesse termini as to reversionary leases and leases for lives
102 Abolition of interesse termini as to reversionary leases and leases for
(1) The doctrine of interesse termini is abolished.
(2) As from the
commencement of this Act all terms of years absolute shall, whether the
interest is created before or after such commencement, be capable of taking
effect at law or in equity, according to the estate interest or powers of the
grantor, from the date fixed for commencement of the term, without actual
(3) A term, at a rent or granted in consideration of a fine, limited
after the commencement of this Act to take effect more than 21 years from the
date of the instrument purporting to create it, shall be void, and any
contract made after such commencement to create such a term shall likewise be
void, but this subsection does not apply to any term taking effect in equity
under a settlement, or created out of an equitable interest under a
settlement, or under an equitable power for mortgage, indemnity or other like
(4) Nothing in subsections (1) and (2) prejudicially affects the
right of any person to recover any rent or to enforce or take advantage of any
covenants or conditions, or, as respects terms or interests created before the
commencement of this Act, operates to vary any statutory or other obligations
imposed in respect of such terms or interests.
(5) Nothing in this Act
affects the rule of law that a legal term, whether or not being a mortgage
term, may be created to take effect in reversion expectant on a longer term,
which rule is confirmed.
(6) In this section—
"term of years" includes a term for less than a year, or for a year or years
and a fraction of a year or from year to year.
AustLII: Copyright Policy