PART IV
MISCELLANEOUS AND GENERAL
Tenants-at-will
20.-(1)
A tenant-at-will shall be entitled, in accordance with this section, to acquire his landlord’s
interest as such in the land which is subject to the tenancy-at-will (hereinafter referred to as the
“tenancy land”).
(2)
Subject to section 21(2) of this Act, a tenant-at-will who wishes to acquire his landlord’s interest
under this section shall serve notice on him in, or as nearly as may be in, the form set out in
Schedule 1 to this Act.
(3)
There shall be payable by the tenant-at-will to his landlord by way of compensation in respect
of an acquisition of tenancy land such amount as may be agreed between them or, failing
agreement, an amount equal to-
(a) the value of the tenancy land, not including any buildings thereon, but assuming that
planning permission for residential purposes has been granted in respect of it; or
(b) one twenty-fifth of the value of the tenancy land, including any buildings thereon,
whichever is the lesser, together with-
(i) subject to subsection (4) below, such further amount as may be required to discharge
any heritable security over the tenancy land or, where the heritable security is granted
over land including the tenancy land, such further amount (being such proportion of
the sum secured over the land which includes the tenancy land as may reasonably be
regarded as attributable to the tenancy land)as is required to restrict the heritable
security so as to disburden the tenancy land; and
(ii) such further amount as may be required to redeem any feuduty, ground annual or other
periodic payment falling to be redeemed under section 5 of the Land Tenure Reform
(Scotland) Act 1974.
(4)
In respect of any acquisition under this section, the amount mentioned in paragraph (i) of
subsection (3) above shall not exceed ninety per cent. of the amount fixed by virtue of
paragraph (a) or (b) of that subsection.
(5)
The tenant-at-will shall reimburse the expenses reasonably and properly incurred by the
landlord in conveying his interest in the tenancy land to the tenant-at-will, including the
expenses of any discharge, restriction or redemption under subsection (3) above.
(6)
The landlord shall, on there being tendered to him the compensation and expenses specified in
this section, convey his interest in the tenancy land to his tenant-at-will on such terms and
conditions (additional to those relating to compensation and expenses under subsections (3), (4)
and (5) above) as may be agreed between them or, failing agreement, as may be a appropriate
to the circumstances of the case and free of all heritable securities, and all such feuduties, ground
annuals or other periodical payments as are mentioned in subsection (3)(ii) above.
(7)
A heritable creditor whose security is over the tenancy land or land which includes the tenancy
land, on there being tendered to him the amount mentioned in paragraph (i) of subsection (3)