|
|
Sub-tenants empowered to purchase Perpetuities in Bishops Lands on Default of superior Tenants.
Purchases by Sub-tenants subject to Rents-charge to superior Tenants.
Sub-tenants Applications for Purchase to have Preference according to Priority.
|
XXX. ‘And whereas in many Cases the Lands, Tenements, and Hereditaments held under Leases from Archbishops, Bishops, or other Ecclesiastical Corporations Sole in Ireland have been sub-let to Under-tenants, who are entitled, under Covenants or Contracts, to the Renewal of their Leases from Time to Time as often as the first or immediate Tenants thereof shall obtain Renewals of their Leases from any such Archbishop, Bishop, or other Ecclesiastical Corporation Sole, and by reason of the small Interest of the first or immediate Tenants in such Lands, Tenements, and Hereditaments, or for other Reasons, they may not be desirous to purchase the Fee Simple and Inheritance therein, and it is expedient that in such Cases the Under-tenants thereof should be authorized to purchase the same, subject to the Provisions and Regulations herein-after contained;’ be it therefore enacted, That it shall and may be lawful to and for any Under-tenant, having any derivative Estate or Interest in any such Lands, Tenements, and Hereditaments by virtue of any Lease containing any such Covenant or Contract for the Renewal thereof as aforesaid, either mediately or immediately through or under the first or immediate Tenant thereof, to apply (in the Manner prescribed by the said Act in reference to first or immediate Tenants) for the Purchase of the Fee Simple and Inheritance of and in the Lands, Tenements, and Hereditaments held by such Under-tenant under any such Lease, giving Notice, nevertheless, in Writing of such Application to the first or immediate Tenant of such Lands, Tenements, and Hereditaments, and to all other Tenants thereof (if any) intervening between such Archbishop, Bishop, or other Ecclesiastical Corporation Sole and the Under-tenant making such Application, or to the known Agent or Receiver, Agents or Receivers of such first and other intervening Tenants; and upon the Receipt of such Notice, or at any Time within Twelve Calendar Months thereafter, it shall be lawful as well for such first or immediate as for any other of such intervening Tenants to apply in like Manner for the Purchase of the Fee Simple and Inheritance of and in the same Lands, Tenements, and Hereditaments, and the first or immediate Tenant of such Lands, Tenements, and Hereditaments is hereby empowered to contract or agree for the Purchase thereof accordingly, in the Manner provided by the said Act, or as near thereto as Circumstances will admit, notwithstanding such Lands, Tenements, and Hereditaments shall not constitute the whole of the Lands, Tenements, and Hereditaments held by him under any Lease from any such Archbishop, Bishop, or other Ecclesiastical Corporation Sole; and in case such first or immediate Tenant shall neglect or omit to make Application in manner by the said Act directed for the Purchase of the Fee Simple and Inheritance of and in such Lands, Tenements, and Hereditaments for the Space of Twelve Calendar Months after such Notice in Writing shall have been given to him, or to his known Agent or Receiver, it shall be lawful for the said Commissioners to treat, contract, or agree with such Under-tenant who may have given such Notice as aforesaid, or with any intervening Tenant who may have made Application within the said Period of Twelve Months, for the absolute Purchase by him of the Fee Simple and Inheritance of and in the same Lands, Tenements, and Hereditaments, upon such and the same Terms and in the same Manner as in the said Act is prescribed for the Purchase of Perpetuities by any first or immediate Tenant, but subject nevertheless (in addition to the Rent thereby directed to be reserved and made payable to the Archbishop, Bishop, or other Ecclesiastical Corporation Sole under whom the same are immediately held) to a perpetual Rent-charge, or as many perpetual Rents-charge as there are Tenants intervening between such Archbishop, Bishop, or other Ecclesiastical Corporation Sole, and the Under-tenant entering into such Contract for Purchase, such Rent-charge or Rents-charge to be ascertained in manner herein-after mentioned, and to be issuing out of the same Lands, Tenements, and Hereditaments, and to be reserved and made payable to such intervening Tenant or Tenants, his or their Heirs and Assigns for ever: Provided always, that in case more than One of such Under-tenants shall make Application for such Purchase, the Application of the Under-tenant holding directly under such first or immediate Tenant shall be preferred to that of the one next below, and so on according to Priority of holding down to the Under-tenant so giving Notice as aforesaid; and the said Commissioners shall convey the said Lands, Tenements, and Hereditaments, so contracted to be purchased, to the Purchaser thereof accordingly, in the Manner and under the Regulations by the said Act provided in relation to the Purchases thereby authorized to be made, subject nevertheless to the additional perpetual Rent-charge or Rents-charge herein-before mentioned; and immediately upon the Execution of such Conveyance the Reversion or respective Reversions then vested in such intervening Tenant or Tenants shall, so far only as respects such Lands, Tenements, and Hereditaments, be absolutely merged and extinguished in the Freehold and Inheritance thereby conveyed to such Purchaser, and the said perpetual Rent-charge or Rents-charge, and the Estate or Interest therein, shall be considered as a Substitute or Substitutes for the Rent and Reversion so merged and extinguished as aforesaid.
|
