Paragraph 4
Any person who, immediately after the commencement of this Act, is entitled to an equitable interest capable of subsisting as a legal estate which has priority over any legal estate in the same land, shall be deemed to be entitled for the foregoing purposes to require a legal estate to be vested in him for an interest of a like nature not exceeding in extent or duration the equitable interest:
Provided that this paragraph shall not—
apply where the equitable interest is capable of being over-reached by virtue of a subsisting trust for sale or a settlement;
operate to prevent such person from acquiring any other legal estate under this Part of this Schedule to which he may be entitled.
Notes on Schedule FIRST
Modifications
- C1
Sch. 1 amended by S.I. 1990/776, art. 4(1)(b); and (1.1.1997) by 1996 c. 47, s. 5(1), Sch. 2 para.7 (with ss. 24(2), 25(4)); S.I. 1996/2974, art. 2