PROPERTY LAW ACT 1969 - SECT 22
PROPERTY LAW ACT 1969 - SECT 22
22 . Satisfied terms, whether created out of freehold or leasehold land, to cease
(1) Where the purposes
of a term of years, created or limited at any time out of freehold land,
become satisfied (whether or not that term either by express declaration or by
construction of law becomes attendant upon the freehold reversion), that term
of years merges in the reversion expectant thereon and ceases accordingly.
(2) Where the purposes
of a term of years, created or limited at any time out of leasehold land,
become satisfied, that term merges in the reversion expectant thereon and
ceases accordingly.
(3) Where the purposes
are satisfied as respects part only of the land comprised in a term, this
section has effect as if a separate term had been created in regard to that
part of the land.