Landlord and Tenant (Ireland) Act, 1872

Regulations with respect to purchase of their holdings by tenants.

1.[1] The following regulations shall be enacted with respect to purchases of their holdings by tenants:

(1.) Every application under the principal Act made by a tenant to the Board for an advance for the purchase of his holding may be made before or after such tenant has entered into any agreement for the purchase or has been declared the purchaser of the holding in respect of which such advance is required, and the Board may agree to advance to such tenant any sum not exceeding two third parts of the value of such holding as assessed by the Board:

(2.) Where any sale of his holding is made to a tenant in pursuance of the principal Act, by or through the medium of the Landed Estates Court, that court, and not the Civil Bill Court, shall have power to charge the annuity authorised to be charged by the principal Act, in favour of the Board, in respect of advances by the Board; and the forty-fourth and forty-seventh sections of the principal Act shall be amended accordingly by the substitution therein of the expression “Landed Estates Court” for the expression “Civil Bill Court.”

(3.) Notwithstanding the sale to a tenant by his landlord of his holding may not have been made in or through the medium of the Landed Estates Court, the Board may, if satisfied of the value of the security, agree to advance to such tenant for the purpose of purchasing his holding any sum not exceeding two third parts of the value of such holding, as assessed by the Board, and may take as security for the repayment of such advance a charge on such holding of an annuity of the same duration and amount as would have been charged thereon if the sale had been made in the Landed Estates Court; but no such advance shall be actually paid to the tenant until the Board are satisfied with the title of the tenant, and have taken from him a charge on the holding in such form and with such powers of sale and covenants for payment as the Board may be advised will effectually secure the annuity charged in their favour, and with the like powers for the recovery of such annuity as are contained in the principal Act in respect to the recovery of annuities under the said Act:

(4.) If while any holding is charged with the payment of an annuity to the Board under the principal Act and this Act, any part of such holding is let to agricultural labourers bonâ fide required for the cultivation of such holding, for cottages or gardens not exceeding half an acre in each case, such letting shall not be deemed to be nor shall the same be a cause of forfeiture.

[1 See as to reduction of annuities, 50 & 51 Vict. c. 33. ss. 24, 27.]