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StatuteProperty Law Act 2007

Section 47 — Property Law Act 2007: Apportionment of rent from property

Text of the provision Official document

47 Apportionment of rent from property (1) Rent from property, if payable in advance in respect of a period, is apportionable as between the parties to— (a) a transfer or assignment of the property; or (b) a transfer or assignment of the right to occupy or use the property. (2) A proceeding for the recovery of rent reserved out of, or charged upon, land may be brought only by the person who, if the rent had not been apportioned, would have been entitled to the entire rent, but that person is liable for the apportioned part to the person entitled to it under the apportionment. (3) Rent , in this section, includes— (a) a rentcharge; and (b) a payment in the nature of rent under a lease or a licence to occupy or use any property. (4) Subsection (2) overrides section 46(2) . Compare: 1952 No 51 s 147

Official source: legislation.govt.nz

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Statutory text from an official public source. Informational content — does not replace advice from a qualified lawyer.