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| 83 Hypothecation of and settlement lease after exercise of option to purchase |
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83 Hypothecation of and settlement lease after exercise of option to purchase (1) If in any lease entered into under any law relating to land settlement the lessee is given the option to purchase the property leased or any portion thereof, and he has exercised the option, the rights to the property so acquired by the lessee may, if the lease is registered in a deeds registry and is not subject to an existing bond, be hypothecated by a notarial bond. (2) The provisions of section eighty-two shall mutatis mutandis apply in respect of the registration of such a bond. (3) If such lease is subject to an existing bond at the date of the exercise of the option the rights acquired by the exercise of such option shall be subject to such bond. |
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