47. Transfer subject to lease
A transfer of registered land or a registered long term lease which is subject to a lease shall be valid without the lessee of the last-mentioned lease acknowledging the transferee as lessor, but nothing in this section shall—
- (a) affect the validity of any payment of rents made by the lessee to the transferor; or
- (b) render the lessee liable, on account of his failure to pay rents to the transferee, for any breach of agreement to pay rents,
before a notice of the transfer is given to the lessee by the transferor or transferee.
48. Leases other than long term leases
(1) The Registrar shall register—
- (a) the grant of a lease;
- (b) any transaction concerning a lease where the lessee’s interest in the lease is or is to be affected by the transaction.
(2) In this section, “lease” (租契) does not include—
- (a) a lease which is an overriding interest;
- (b) a lease of any land which is not registered land; or
- (c) a long term lease.
49. Long term leases
(1) An application for the registration of a long term lease shall be made by the first lessee of the long term lease granted by the owner of the registered land on or after the date of first registration of the land.
(2) Where, on the grant of a long term lease by the owner of the registered land on or after the date of first registration of the land, the owner has, or ought reasonably to have, knowledge of an overriding interest which might affect the long term lease—
- (a) the owner shall, notwithstanding any stipulation to the contrary, at his own expense provide the first lessee of the long term lease with full particulars of the interest; and
- (b) the first lessee shall include the particulars provided to him under paragraph (a) in the application presented to the Registrar under subsection (1).
(3) The Registrar may register a long term lease which is the subject of an application under subsection (1) if the Registrar is satisfied that the application complies with the provisions of this Ordinance applicable to it.
