Section Sch6-5 — Property Law Act 2007: Application of stated conditions of sale

5 Application of stated conditions of sale (1) In the completion of a contract for the sale of land,— (a) 30 years is substituted for 60 years as the period of commencement of title which a purchaser may require; but earlier title than 30 years may be required in cases similar to those in which, immediately before 1 January 1953, earlier title than 60 years might have been required: (b) the following rules apply to the obligations and rights of vendor and purchaser: (i) recitals, statements, and descriptions of facts, matters, and parties contained in instruments or statutory declarations 20 years old at the date of the contract are to be taken to be sufficient evidence of the truth of those facts, matters, and parties, except to the extent that they are proved to be inaccurate: (ii) the inability of the vendor to furnish the purchaser with a legal covenant to produce and furnish copies of documents of title is not an objection to title if the purchaser, on the completion of the contract, has an equitable right to the production of the documents: (iii) any covenant for production that the purchaser can and does require must be furnished at the purchaser’s expense, and the vendor must bear the expense of perusal and execution on behalf of himself or herself and any necessary parties other than the purchaser: (iv) if the vendor retains any part of an estate to which any documents of title relate, he or she is entitled to retain those documents of title. (2) This clause applies subject to the contract for the sale of the land. Compare: 1952 No 51 s 52