- Laws of Fiji

Last Updated: 1 August 2020

[PL 103] Abolition of interesse termini, and as to reversionary leases and leases for lives103

103

(1) The doctrine of interesse termini is abolished.

(2) As from the commencement of this Act all terms of years absolute are, whether the interest is created before or after such commencement, capable of taking effect at law or in equity, according to the estate, interest or powers of the grantor, from the date fixed for commencement of the term, without actual entry.

(3) A term, at a rent or granted in consideration of a fine, limited after the commencement of this Act to take effect more than 21 years from the date of the instrument purporting to create it, is void, and any contract made after that date to create such a term is likewise void, but this subsection does not apply to any term taking effect under a settlement, or created out of an interest under a settlement, or under a power for mortgage, indemnity or other like purposes.

(4) Nothing in subsections (1) and (2) prejudicially affects the right of any person to recover any rent or to enforce or take advantage of any covenants or conditions, or, as respects terms or interests created before the commencement of this Act, operates to vary any statutory or other obligations imposed in respect of those terms or interests.

(5) Nothing in this Part affects the rule of law that a legal term, whether or not being a mortgage term, may be created to take effect in reversion expectant on a longer term and that rule is hereby confirmed.