Paragraph 3
England and Wales
Where, by virtue of an instrument coming into operation after the commencement of this Act, land becomes charged voluntarily (or in consideration of marriageF1or the formation of a civil partnership) or by way of family arrangement, whether immediately or after an interval, with the payment of—
(a)
a rentcharge for the life of a person or a shorter period, or
(b)
capital, annual or periodical sums for the benefit of a person,
the instrument operates as a declaration that the land is held in trust for giving effect to the charge.
Annotations
Textual amendments
- F1
Words in Sch. 1 para. 3 inserted (5.12.2005) by Civil Partnership Act 2004 (c. 33), s. 263(10)(b), Sch. 27 para. 153; S.I. 2005/3175, art. 2(2)