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Leasehold Interests
Classes of title which may be registered.
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40.—(1) On registration of the ownership of an unregistered leasehold interest, a person may be registered with an absolute title, a good leasehold title, a qualified title or a possessory title.
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(2) An application for registration may be made by such person, and shall be made in such form and be accompanied by such evidence of title, as may be prescribed.
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(3) The application shall be for registration with an absolute title, a good leasehold title or a possessory title.
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(4) The applicant shall be registered as owner with an absolute title where the title both to the leasehold interest and to the freehold estate, and to any intermediate leasehold interest that may exist, is approved by the Registrar.
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(5) The applicant shall be registered as owner with a good leasehold title where the title to the leasehold interest is approved by the Registrar.
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(6) If, on an application for registration with an absolute title or a good leasehold title, it appears to the Registrar that the title, either of the lessor to the reversion or of the lessee to the leasehold interest, can be established only for a limited period, or only subject to certain reservations, the Registrar may, by an entry made in the register, except from the effect of registration any right—
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(a) arising before a specified date, or
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(b) arising under a specified instrument, or
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(c) otherwise particularly described in the register,
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and a title registered subject to any such exception shall be called a qualified title. Where the registration of the ownership is not compulsory, the Registrar shall not exercise his powers under this subsection without the consent of the applicant.
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(7) The applicant may be registered as owner with a possessory title on giving such evidence of title as may be prescribed.
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(8) If, on an application for registration with an absolute title or with a good leasehold title, the Registrar is not satisfied that the grant of an absolute, good leasehold or qualified title would be warranted, he may register the applicant as owner with a possessory title. Where the registration of the ownership is not compulsory, the Registrar shall not exercise his powers under this subsection without the consent of the applicant.
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(9) If, on an application for registration with a possessory title, the Registrar is satisfied that the grant of an absolute, good leasehold or qualified title would be warranted, he may register the applicant as owner with such a title, whether the applicant consents or not.
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