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LAND LAW (IRELAND) ACT 1881 - SECT 25

Power to limited owner to sell holding and leave one-fourth of price of holding on mortgage.

25. A landlord of a holding, being a limited owner as defined by the
twenty-sixth section of the Landlord and Tenant (Ireland) Act, 1870, may by
agreement, subject to the provisions of the Lands Clauses Consolidation Acts
(except so much of the same as relates to the purchase of lands otherwise than
by agreement), sell and convey such holding to the tenant, and may exercise to
the same extent as if he were an absolute owner the power of permitting any
sum not exceeding one-fourth in amount of the price which the tenant may pay
as purchase money, to remain as a charge upon such holding secured by a
mortgage, and in case of any advance being made by the land commission under
the provisions of this Act to the tenant for the purchase of such holding any
such mortgage shall be subject to any charge in favour of the land commission
for securing such advance; and any such mortgage and the principal money
secured thereby shall be deemed to be part of the purchase money or
compensation payable in respect of the purchase of such holding, and shall be
dealt with accordingly in manner provided by the Lands Clauses Consolidation
Acts, and in the construction of the said Acts for the purposes of this
section the expression "the special Act" shall be construed to mean this Act,
and the expression "the promoters of the undertaking" shall be construed to
mean the tenant.

S.26 rep. by 1896 c.47 s.52 sch.2; 1903 c.37 s.103 sch.; SLR 1950. S.27 rep.
by 1903 c.37 s.103 sch.

© 1881 Crown Copyright

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