1988 Ed.]
Conveyancing and Property
[CAP. 219
17
severance of that reversionary estate, and without prejudice to any liability affecting a covenantor or his estate.
(2) Any rent, covenant or provision mentioned in subsection (1) shall be capable of being recovered, received, enforced, and taken advantage of, by the person from time to time entitled, subject to the term granted by the lease, to the income of the whole or any part, as the case may require, of the land leased.
(3) Where the person mentioned in subsection (2) becomes entitled as mentioned in that subsection by assignment or otherwise, the rent, covenant or provision mentioned in subsection (1) may be recovered, received, enforced or taken advantage of by him notwithstanding that he 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 as aforesaid.
(4) This section applies to leases made before or after the commencement of this section, but does not affect the operation of—
(a) any severance of the reversionary estate; or
(b) any acquisition by assignment or otherwise of the right to receive or enforce any rent covenant or provision,
effected before the commencement of this section.
(5) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance (Cap.126).
Obligation of lessor's covenants to run with reversion
[cf. U.K. 1925 c. 20, s. 141]
32. (1) The obligation under a condition or of a covenant entered into by a lessor with reference to the subject-matter of the lease shall, if and as far as the lessor has power to bind the reversionary estate immediately expectant on the term granted by the lease, be annexed and incident to and shall go with that reversionary estate, or the several parts thereof, notwithstanding severance of that reversionary estate, and may be taken advantage of and enforced by the person in whom the term is from time to time vested by assignment, devolution in law, or otherwise; and, if and as far as the lessor has power to bind the person from time to time entitled to that reversionary estate, the obligation aforesaid may be taken advantage of and entered against any person so entitled.
(2) This section applies to leases made before or after the commencement of this section, whether the severance of the reversionary estate was effected before or after such commencement.
(3) This section takes effect without prejudice to any liability affecting a covenantor or his estate.
(4) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance.
[cf. U.K. 1925 c. 20, s. 142]
Lessor or mortgagee to have benefit of informal insurance
33. The person entitled to the benefit of a covenant on the part of a lessee or mortgagor to insure against loss or damage by fire shall, on loss or damage
1988 Ed.]
Conveyancing and Property
[CAP. 219
17
severance of that reversionary estate, and without prejudice to any liability affecting a covenantor or his estate.
(2) Any rent, covenant or provision mentioned in subsection (1) shall be capable of being recovered, received, enforced, and taken advantage of, by the person from time to time entitled, subject to the term granted by the lease, to the income of the whole or any part, as the case may require, of the land leased.
(3) Where the person mentioned in subsection (2) becomes entitled as mentioned in that subsection by assignment or otherwise, the rent, covenant or provision mentioned in subsection (1) may be recovered, received, enforced or taken advantage of by him notwithstanding that he 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 as aforesaid.
(4) This section applies to leases made before or after the commencement of this section, but does not affect the operation of—
(a) any severance of the reversionary estate; or
(b) any acquisition by assignment or otherwise of the right to receive or
enforce any rent covenant or provision,
effected before the commencement of this section.
(5) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance (Cap. 126).
Obligation of lessor's covenants to run with reversion
[cf. U.K. 1925 c. 20, s. 141]
32. (1) The obligation under a condition or of a covenant entered into by a lessor with reference to the subject-matter of the lease shall, if and as far as the lessor has power to bind the reversionary estate immediately expectant on the term granted by the lease, be annexed and incident to and shall go with that reversionary estate, or the several parts thereof, notwithstanding severance of that reversionary estate, and may be taken advantage of and enforced by the person in whom the term is from time to time vested by assignment, devolution in law, or otherwise; and, if and as far as the lessor has power to bind the person from time to time entitled to that reversionary estate, the obligation aforesaid may be taken advantage of and entered against any person so entitled.
(2) This section applies to leases made before or after the commencement of this section, whether the severance of the reversionary estate was effected before or after such commencement.
(3) This section takes effect without prejudice to any liability affecting a covenantor or his estate.
(4) Nothing in this section shall affect the provisions of the Crown Rights (Re-entry and Vesting Remedies) Ordinance.
[cf. U.K. 1925 c. 20, s. 142]
Lessor or mortgagee to have benefit of informal insurance
33. The person entitled to the benefit of a covenant on the part of a lessee or mortgagor to insure against loss or damage by fire shall, on loss or damage
No comments yet.
Private notes are available after approval.