PROPERTY LAW ACT 1974 - SECT 237
Statutory commencements of title
PROPERTY LAW ACT 1974 - SECT 237
Statutory commencements of title
237 Statutory commencements of title
(1) After the commencement of this Act 30 years shall be substituted for 60
years as the period of commencement of title which a purchaser of land may
require, even though earlier title than 30 years may be required in cases
similar to those in which earlier title than 60 years might immediately before
the commencement of this Act be required.
(2) Under a contract to grant or
assign a term of years, whether derived or to be derived out of freehold or
leasehold land, the intended lessee or assign shall not be entitled to call
for the title to the freehold.
(3) Under a contract to sell and assign a term
of years derived out of a leasehold interest in land, the intended assign
shall not have the right to call for the title to the leasehold reversion.
(4) On a contract to grant a lease for a term of years to be derived out of a
leasehold interest, with a leasehold reversion, the intended lessee shall not
have the right to call for the title to that reversion.
(5) Where, because of
subsection (2) , (3) or (4) , an intending lessee or assign is not entitled to
call for the title to the freehold or to a leasehold reversion, as the case
may be, the intending lessee or assign shall not, where the contract is made
after the commencement of this Act, be deemed to be affected with notice of
any matter or thing of which, if the intending lessee or assign had contracted
that such title should be furnished, the intended lessee or assign might have
had notice.
(6) A purchaser shall not be deemed to be or ever to have been
affected with notice of any matter or thing of which, if the purchaser had
investigated the title or made enquires in regard to matters prior to the
period of commencement of title fixed by this Act, or by any other statute, or
by any rule of law, the purchaser might have had notice, unless the purchaser
actually makes such investigation or enquires.
(7) Where a lease whether made
before or after the commencement of this Act, is made under a power contained
in a settlement, will, Act or other instrument, any preliminary contract for
or relating to the lease shall not, for the purpose of the deduction of title
to an intended assign, form part of the title, or evidence of the title, to
the lease.
(8) This section applies to contracts for sale whether made before
or after the commencement of this Act, and applies to contracts for exchange
in like manner as to contracts for sale, save that it applies only to
contracts for exchange made after such commencement.
(9) This section applies
only if and so far as a contrary intention is not expressed in the contract.