410. Leaseholds.

410.     Leaseholds.

Unless disclaimed by the trustee1, the bankrupt's leasehold property passes to the trustee subject to the landlord's rights as to rent and to the enforcement of the covenants2 which bind assigns, except those which are not enforceable against a tenant's trustee in bankruptcy, such as the covenant not to assign without the landlord's consent3.

The bankrupt's property is also subject to rights of distress and to any rights of seizure which have been validly created in respect of it4.