sec.140Effect of transfer of reversion of lease by lessor

### sec.140 Effect of transfer of reversion of lease by lessor This section applies in relation to a lease of land if the lessor transfers the reversion of the lease to another person (the transferee ). Each right conferred under the terms of the lease on the lessor— runs with the reversion of the lease; and may be exercised by the transferee, whether or not the lessee has acknowledged that person as the lessor of the land. Each obligation imposed under the terms of the lease on the lessor— runs with the reversion of the lease; and may be enforced by the lessee against the transferee. Also, the transferee is— bound by each term of the lease to the extent the lessor was bound by the term immediately before the transfer; and entitled to the benefit of each term of the lease to the extent the lessor was entitled to the benefit of the term immediately before the transfer. Subsection (4) applies whether or not the term— touches and concerns the land the subject of the lease; or is express, implied or imposed by law. Subsections (2) , (3) and (4) do not apply in relation to a term of the lease to the extent— the lease expressly provides the term is personal; or the lease expressly excludes the operation of the subsection in relation to the term; or the lessor and the transferee expressly agree in writing that the benefit of the term remains with the lessor. Also, the lessor remains liable for a breach of a term of the lease committed by the lessor. If a term of the lease restricts the use of the land, the reference to the transferee in subsection (4) also includes a reference to any person who is the owner of the land to which the term relates. This section applies despite the Land Title Act 1994 , section 62 . In this section— right , conferred under the terms of a lease, includes a right to— receive the rent payable under the lease; and enforce a term of the lease, whether or not the subject matter of the term was in existence when the lease was made; and enforce a guarantee of the performance of a term mentioned in paragraph (b) ; and give a notice under the lease; and take advantage of a term of the lease; and re-enter, or apply for an order for possession of, the land; and terminate the lease. transfer , of a reversion of a lease, includes the passing of the reversion including by transmission. (sec.140-ssec.1) This section applies in relation to a lease of land if the lessor transfers the reversion of the lease to another person (the transferee ). (sec.140-ssec.2) Each right conferred under the terms of the lease on the lessor— runs with the reversion of the lease; and may be exercised by the transferee, whether or not the lessee has acknowledged that person as the lessor of the land. (sec.140-ssec.3) Each obligation imposed under the terms of the lease on the lessor— runs with the reversion of the lease; and may be enforced by the lessee against the transferee. (sec.140-ssec.4) Also, the transferee is— bound by each term of the lease to the extent the lessor was bound by the term immediately before the transfer; and entitled to the benefit of each term of the lease to the extent the lessor was entitled to the benefit of the term immediately before the transfer. (sec.140-ssec.5) Subsection (4) applies whether or not the term— touches and concerns the land the subject of the lease; or is express, implied or imposed by law. (sec.140-ssec.6) Subsections (2) , (3) and (4) do not apply in relation to a term of the lease to the extent— the lease expressly provides the term is personal; or the lease expressly excludes the operation of the subsection in relation to the term; or the lessor and the transferee expressly agree in writing that the benefit of the term remains with the lessor. (sec.140-ssec.7) Also, the lessor remains liable for a breach of a term of the lease committed by the lessor. (sec.140-ssec.8) If a term of the lease restricts the use of the land, the reference to the transferee in subsection (4) also includes a reference to any person who is the owner of the land to which the term relates. (sec.140-ssec.9) This section applies despite the Land Title Act 1994 , section 62 . (sec.140-ssec.10) In this section— right , conferred under the terms of a lease, includes a right to— receive the rent payable under the lease; and enforce a term of the lease, whether or not the subject matter of the term was in existence when the lease was made; and enforce a guarantee of the performance of a term mentioned in paragraph (b) ; and give a notice under the lease; and take advantage of a term of the lease; and re-enter, or apply for an order for possession of, the land; and terminate the lease. transfer , of a reversion of a lease, includes the passing of the reversion including by transmission. - (a) runs with the reversion of the lease; and - (b) may be exercised by the transferee, whether or not the lessee has acknowledged that person as the lessor of the land. - (a) runs with the reversion of the lease; and - (b) may be enforced by the lessee against the transferee. - (a) bound by each term of the lease to the extent the lessor was bound by the term immediately before the transfer; and - (b) entitled to the benefit of each term of the lease to the extent the lessor was entitled to the benefit of the term immediately before the transfer. - (a) touches and concerns the land the subject of the lease; or - (b) is express, implied or imposed by law. - (a) the lease expressly provides the term is personal; or - (b) the lease expressly excludes the operation of the subsection in relation to the term; or - (c) the lessor and the transferee expressly agree in writing that the benefit of the term remains with the lessor. - (a) receive the rent payable under the lease; and - (b) enforce a term of the lease, whether or not the subject matter of the term was in existence when the lease was made; and - (c) enforce a guarantee of the performance of a term mentioned in paragraph (b) ; and - (d) give a notice under the lease; and - (e) take advantage of a term of the lease; and - (f) re-enter, or apply for an order for possession of, the land; and - (g) terminate the lease.