Hong Kong Ordinances

LAND TITLES ORDINANCE - SECT 26

Effect of registration of long term lease

not yet in operation

(1) Subject to subsections (2) and (3) and sections 27 and 82, immediately
upon registration of a person as the lessee of a registered  long term lease,
there shall vest in the person, free from all other interests and claims—

   (a)  the interest in the lease; and

   (b)  all rights attaching to the land which may be exercised by virtue of
        that interest.

(2) The person who is registered as the lessee shall hold his interest and
rights subject to—

   (a)  any covenants, exceptions, reservations, stipulations, provisos or
        declarations contained in the Government lease of the land or the
        long  term lease;

   (b)  any registered matter affecting the land; and

   (c)  any overriding interest affecting the land.

(3) Nothing in this section shall relieve the lessee of a
registered long term lease from a duty to which he is subject as trustee.