OpenLegislation

Section 136 Disregard of marriage value in case of very long leasesI1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Paragraph 4 of Schedule 13 to the 1993 Act (meaning of marriage value) is amended as follows.

(2)

In sub-paragraph (2), insert at the beginning “ Subject to sub-paragraph (2A), ”.

(3)

After that sub-paragraph insert—

“(2A)

Where at the relevant date the unexpired term of the tenant’s existing lease exceeds eighty years, the marriage value shall be taken to be nil.”

Annotations

Commencement

I1

S. 136 wholly in force at 1.1.2003; s. 136 not in force at Royal Assent, see s. 181(1); s. 136 in force at 26.7.2002 for E. by S.I. 2002/1912, art. 2(b)(i) (subject to transitional provisions and savings in Sch. 2); s. 136 in force at 1.1.2003 for W. by S.I. 2002/3012, art. 2(b)(i) (subject to transitional provisions and savings in Sch. 2)