LAND LAW (IRELAND) ACT 1887 - SECT 14 Expediting proceedings on sales.

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LAND LAW (IRELAND) ACT 1887 - SECT 14

Expediting proceedings on sales.

14. When an agreement has been made between a landlord and a tenant for the
sale of a holding, and the Land Commission are satisfied that the landlord and
the tenant are prima8 facie entitled to carry such agreement into effect, and
the Land Commission have agreed to make an advance under the Land Law
(Ireland) Acts, the following enactments for facilitating the completion of
the sale shall apply:

(1)The Land Commission may, if they think fit, pay into the Bank of Ireland
the whole or any part of the amount of the advance to such credit as they may
direct, and in any case where the tenant provides any portion of the purchase
money may cause the same to be paid to the like credit, and may by order
declare that the claims of all persons (except the tenant and persons claiming
under him) who are interested in the land sold, whether as incumbrancers or
otherwise, shall attach to the purchase money of such land in like manner as
immediately before the sale they attached to the land, and shall cease to be
of any validity as against the land, and subject as in this Act mentioned
shall be discharged or redeemed out of the purchase money, and the Land
Commission shall determine the rights and priorities of the landlord and such
other persons, and shall distribute the purchase money in accordance with such
rights and priorities. Where the purchase money or any part of it is not
immediately distributable, or the persons entitled thereto are not
ascertained, or where from any other cause the Land Commission think it
expedient for the protection of the rights of the persons interested, then the
Land Commission shall, as the case requires, either retain the same under
their control or deal with the same in the manner provided by the
Settled Land Act, 1882, with respect to capital money arising under that Act,
and may by order declare the trusts affecting such money or share, so far as
the Land Commission have ascertained the same, or state the facts or matters
found by them in relation to the rights and interests therein; and the Land
Commission may from time to time make such orders in relation to any purchase
money or share and the investment or application thereof, or the payment
thereof, or the annual income thereof to the persons interested, as the
circumstances of the case may require.

Subs.(2) spent

(3)Any person in occupation of and paying rent for a holding which is held
under a contract of tenancy, shall have power to enter into an agreement for
the purchase thereof. Where a holding shall be conveyed to or vested in any
such person, the interest thereby assigned to him shall be deemed to be a
graft upon the previous interest of the tenant in such holding, and shall be
subject to any rights or equities arising from its being such graft.Charging
order for securing repayment of advance.

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Northern Irish Legislation

LAND LAW (IRELAND) ACT 1887 - SECT 14