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PROPERTY LAW ACT 1974 - SECT 117
Rent and benefit of lessee’s covenants to run with the reversion
117 Rent and benefit of lessee’s covenants to run with the reversion
(1) Rent reserved by a lease, and the benefit of every covenant, obligation,
or provision contained in the lease, touching and concerning the land, and on
the lessee’s part to be observed or performed, and every condition of
re-entry and other condition contained in the lease, shall be annexed and
incident to and shall go with the reversionary estate in the land, or in any
part of the reversionary estate, immediately expectant on the term granted by
the lease, despite severance of that reversionary estate, and without
prejudice to any liability affecting a covenantor or the covenantor’s
estate.
(2) Any such rent, covenant, obligation, or provision shall be
capable of being recovered, received, enforced, and taken advantage of, by the
person from time to time entitled, subject to the term, to the income of the
whole or any part, as the case may require, of the land leased.
(3) Where
that person becomes entitled by conveyance or otherwise, such rent, covenant,
obligation, or provision may be recovered, received, enforced or taken
advantage of by the person even though the person becomes so entitled after
the condition of re-entry or forfeiture has become enforceable, but this
subsection does not render enforceable any condition of re-entry or other
condition waived or released before such person becomes entitled.
(4) This
section applies to— (a) leases made after the commencement of this Act; and
(b) leases made before the commencement of this Act, but with respect only to
rent accruing due after the commencement of this Act and to the benefit of a
condition of re-entry or forfeiture for a breach committed after the
commencement of this Act of any covenant, condition, obligation or provision
contained in the lease.
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