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Amendment of section 122 (definitions) of the Act of 1891.
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118.— Section 122 of the Act of 1891 is hereby amended by the insertion of the following definition after the definition of “marketable security”:
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“The expression ‘residential property’, in relation to a sale or lease, means—
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(a) a building or part of a building which, at the date of the instrument of conveyance or lease—
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(i) was used or was suitable for use as a dwelling, or
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(ii) was in the course of being constructed or adapted for use as a dwelling, or
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(iii) had been constructed or adapted for use as a dwelling and had not since such construction or adaptation been adapted for any other use,
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and
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(b) the curtilage of the residential property up to an area (exclusive of the site of the residential property) of one acre:
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Provided that—
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(i) where in the year ending on the 31st day of December immediately prior to the date of that instrument of conveyance or lease—
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(I) a rate was made by a rating authority as regards any hereditament to which the provisions of section 3 of the Act of 1978 did not apply, or
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(II) a rate was made by a rating authority, and an allowance made under that section of that Act, as regards any hereditament which was at the time the rate was made a mixed hereditament, secondary school or community hall, or
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(III) a hereditament was described as exempt, or partially exempt, from rating in the valuation lists,
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then the whole or an appropriate part of that hereditament as is referable to ordinary use other than as a dwelling at the date of that instrument of conveyance or lease or, where appropriate, when last ordinarily used, shall not be residential property, in relation to that sale or lease,
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(ii) where the area of the curtilage (exclusive of the site of the residential property) exceeds one acre then the part which shall be residential property shall be taken to be the part which, if the remainder were separately occupied, would be the most suitable for occupation and enjoyment with the residential property.”.
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