99 Leasing powers of mortgagor and mortgagee in possession
Law of Property Act 1925 (1925 c 20) | Legislation

99  Leasing powers of mortgagor and mortgagee in possession

(1)     A mortgagor of land while in possession shall, as against every incumbrancer, have power to make from time to time any such lease of the mortgaged land, or any part thereof, as is by this section authorised.

(2)     A mortgagee of land while in possession shall, as against all prior incumbrancers, if any, and as against the mortgagor, have power to make from time to time any such lease as aforesaid.

(3)     The leases which this section authorises are—

(i)     agricultural or occupation leases for any term not exceeding twenty-one years, or, in the case of a mortgage made after the commencement of this Act, fifty years; and

(ii)     building leases for any term not exceeding ninety-nine years, or, in the case of a mortgage made after the commencement of this Act, nine hundred and ninety-nine years.

(4)     Every person making a lease under this section may execute and do all assurances and things necessary or proper in that behalf.

(5)     Every lease shall be made to take effect in possession not later than twelve months after its date.

(6)     Every such lease shall reserve the best rent that can

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