The provisions as to the realisation of freehold and leasehold mortgages by sale1 are adapted to freehold and leasehold sub-mortgages2 as follows. In the case of a sub-mortgage by sub-demise of a long term (less a nominal period) itself limited out of an estate in fee simple, the provisions operate as if the derivative term, if any, created by the sub-term had been limited out of the fee simple, and so as to enlarge the principal term and extinguish the derivative term created by the sub-mortgage and to enable the sub-mortgagee to convey the fee simple
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234