{
  "url": "https://openlegislation.uk/building-societies-prescribed-equitable-interests-order-1997/note",
  "json_url": "https://openlegislation.uk/building-societies-prescribed-equitable-interests-order-1997/note.json",
  "legislation": "uksi/1997/2693",
  "legislation_title": "The Building Societies (Prescribed Equitable Interests) Order 1997",
  "legislation_url": "https://openlegislation.uk/building-societies-prescribed-equitable-interests-order-1997",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order prescribes three types of equitable interest in land for the purposes of section 6A(2) of the Building Societies Act 1986. A loan secured by a mortgage of any of these types of equitable interest to a building society or its subsidiary undertaking is secured on land for the purposes of the Act.\nThe first type of equitable interest in land is a leaseholder’s right — for example in certain types of shared ownership scheme — to buy the freehold or a greater leasehold interest. The second type is an easement, profit or similar right which belongs with land. The third type is an interest arising under a contract for the development, primarily for residential purposes, of land which includes a right for the developer to call for the legal estate to be transferred to him or to a third party.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/2693/note",
    "retrieved_at": "2026-10-29T11:43:05.483117+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}