Section 3 Land transactionI1

In this Act, a “"land transaction”” means an acquisition of a chargeable interest.

Except as otherwise provided, this Act applies however the acquisition is effected, whether by act of the parties, by order of a court or other authority, by or under any enactment or by operation of law.

See section 15 as to when the acquisition of an option or right of pre-emption is a land transaction.