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Settled Land
Provisions as to limited owners.
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99.—(1) Where a person is registered as limited owner under a settlement, the names of the trustees of the settlement, if any, shall be entered in the register.
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(2) The registration of a person as limited owner of settled land shall not—
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(a) confer on the person so registered, as against any person claiming under the settlement, any greater powers of dealing with the land than those of a tenant for life under the Settled Land Acts; nor
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(b) confer on the assignee, devisee or personal representative or assignee or trustee in bankruptcy of the limited owner any greater estate or interest than he would otherwise have; nor
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(c) take away from any trustee under the settlement any powers of dealing with the land which he would otherwise have.
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(3) Where a person is by operation of law or otherwise assignee of a person registered as limited owner of land, the name of the assignee shall, on his application, be entered in the register with the addition of the word “assignee”, or of such other words as may be prescribed. In default of such entry the registration of the limited owner shall continue to have effect as if there had been no assignment.
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(4) The registered owner of a charge which is registered as a burden on the estate of a registered limited owner shall not be, and shall be deemed never to have been, as such an assignee of the estate of such limited owner within the meaning of this section; but nothing in this subsection shall operate to prevent the application of section 50 of the Settled Land Act, 1882, to any such charge.
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(5) Where a new trustee is appointed, the Registrar shall, on application, and on production of the prescribed evidence, enter his name accordingly.
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(6) The provisions of this Act with respect to the registration of limited owners shall not apply in the case of settled land within the meaning of section 63 of the Settled Land Act, 1882, unless the settlement confers on the limited owner the powers conferred by the Settled Land Act, 1882, on a tenant for life, or an order made under the Settled Land Act, 1884, is in force at the time of the application for registration.
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(7) Where such an order is made with respect to registered land, it shall be to the effect that the person who is to exercise the powers of a tenant for life of the land in pursuance of that section shall be registered as limited owner of the land subject to such inhibitions (if any) as may be considered expedient, and it shall not be necessary to register the order as a lis pendens.
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(8) A person shall not be affected with notice of the trusts of any settlement by reason of any person being registered as limited owner under the settlement or by reason of any reference to the settlement being entered on the register.
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