Where a council1, either on breach of any condition2 or on the decease of an owner3, takes possession of a cottage holding, it vests in the council, which may either retain it under the council's own management or sell or otherwise dispose of it4. However, where it takes possession, the council must pay the owner either an agreed sum5 or the value6 of the interest in the holding less the redemption value of the annuity7 and any arrears of annuity
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