Western Australian Current Acts Western Australian Current Acts (1) The doctrine of
interesse termini is abolished.
(2) As from the date
of the coming into operation of this Act all terms of years absolute are,
whether the interest is created before or after that date, 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
entry.
(3) A term, at a rent
or granted in consideration of a fine, limited after the date of the coming
into operation of this Act to take effect more than 21 years from the date of
the instrument purporting to create it, is void, and any contract made after
that date to create such a term is likewise void; but this subsection does not
apply to any term taking effect under a settlement, or created out of an
interest under a settlement, or under a power for mortgage, indemnity or other
like purposes.
(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 coming into
operation of this Act, operates to vary any statutory or other obligations
imposed in respect of those terms or interests.
(5) Nothing in this
Part 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 and that rule is hereby confirmed.