- (1) Subject to the provisions of this Section, references in this Part of this Act to the owner of a proprietary interest shall be construed as references to the person in whom the legal estate in respect of the interest is vested, or if the interest is a tenancy under an agreement for a lease or under-lease, to the person entitled to have vested in him the legal term agreed to be created.
- (2) Where the legal estate or the title to the legal term, as the case may be, in respect of a proprietary interest is vested in the official trustee of charity lands or other trustee on or for charitable, ecclesiastical or public trusts or purposes not entitled to act in the trust, or in the Public Trustee holding in circumstances in which he is not entitled to act in the trust, then,—
- (a) in the case of a trustee on or for charitable, ecclesiastical or public trusts or purposes, the managing trustees or committee of management shall be deemed for the purposes of this Part of this Act to be the owner of the interest; and
- (b) in the case of the Public Trustee, the person in receipt of the rent incident to the Public Trustee's estate, or, if there is no rent incident thereto, the person in occupation of the land, shall be deemed for those purposes to be the owner of the interest.
- (3) Where under Section nine of the Administration of Estates Act, 1925, the estate of a person who died intestate is vested in the Probate Judge, that judge shall not he deemed for the purposes of this Part of this Act to be the owner of any proprietary interest comprised in the estate, but upon administration being granted the administrator shall be deemed for those purposes to have been the owner thereof as from the date of the death.—[Sir K. Wood.]
§ Brought up, and read the First time.
§ Sir K. Wood
I beg to move, "That the Clause be read a Second time."
The purpose of this Clause is to supply a definition of the word "owner." Subsections (2) and (3) deal with cases where the interest is a trust and is vested in a person who cannot deal with it, but holds it either as a custodian or to bridge the 1444 interval before proper trustees are appointed. Hon. Members will be familiar with cases of that kind. The owner will be the person who is or will be, when appointed, entitled to act in the trust.
§ Question, "That the Clause be read a Second time," put, and agreed to.
§ Clause read a Second time, and added to the Bill.