702. Tenancies granted before 14 August 1974.

The Rent Act 1977 applies, if:

  1.  

    (1)     before 14 August 19741 a dwelling was subject to a furnished tenancy which was not protected2; and

  2.  

    (2)     the dwelling forms part only of a building and that building is not a purpose-built block of flats3; and

  3.  

    (3)     on that date the lessor's interest under the tenancy belonged to a person who occupied as his residence another dwelling which also formed part of that building, or was vested in trustees as such and was or, if it was held on trust for sale, the proceeds of its sale were, held on trust