New South Wales Consolidated Acts
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REAL PROPERTY ACT 1900 - SECT 53
Land under the provisions of this Act--how leased
53 Land under the provisions of this Act--how leased
(1) When any land under the provisions of this Act is intended to be leased or
demised for a life or lives or for any term of years exceeding three years,
the proprietor shall execute a lease in the approved form.
(3) A right for or
covenant by the lessee to purchase the land therein described may be
stipulated in such instrument, and in case the lessee shall pay the purchase
money stipulated and otherwise observe the lessee's covenants expressed and
implied in such instrument, the lessor shall be bound to execute a transfer of
the said land to such lessee.
(4) A lease of land which is subject to a
mortgage, charge or covenant charge is not valid or binding on the mortgagee,
chargee or covenant chargee unless the mortgagee, chargee or covenant chargee
has consented to the lease before it is registered.
(5) Subsection (1) does
not apply in relation to land the subject of a social housing tenancy
agreement within the meaning of the Residential Tenancies Act 2010 .
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