Section 209 — Property Law Act 2007: Short-term lease: effect

209 Short-term lease: effect (1) A lessee who occupies land under a short-term lease has a legal interest in the land. (2) However, subsection (1) is subject to the Land Transfer Act 1952 . (3) The legal interest in the land of a lessee under a short-term lease who has given valuable consideration has priority in relation to any unregistered interest in the land— (a) that was created before the lessee entered into occupation of the land if— (i) the lessee entered into occupation of the land in good faith and without actual notice of the unregistered interest; and (ii) no caveat for the unregistered interest was lodged against the title to the land at the time when the lessee entered into occupation of the land; or (b) that is created after the lessee has entered into occupation of the land.