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Ground Rents Act (Northern Ireland) 2001

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This is the original version (as it was originally enacted).

Interpretation: “ground rent”

This section has no associated Explanatory Notes

28.—(1) In this Act “ground rent” means—

(a)a fee farm rent; or

(b)the rent payable under a lease granted for a term of more than 50 years,

other than a nominal rent.

(2) In subsection (1) “nominal rent” means—

(a)a rent of a yearly amount of less than £1; or

(b)a peppercorn or other rent having no money value.

(3) For the purposes of this Act where a ground rent is payable if demanded (however expressed), it shall be treated as payable even though there is no demand.

(4) Where the amount of a ground rent is subject to alteration in consequence of a breach of covenant (whether it is to be increased from a lower amount to a higher amount in the event of a breach or is subject to reduction from a higher amount to a lower amount so long as there is no breach), for the purposes of this Act the amount of the ground rent is the lower amount.

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