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Liability for arrears of rent, and interest on purchase money after agreement to purchase.
50 & 51 Vict. c. 33.
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35.[1]
—(1) Where an agreement for the purchase of a holding is made after the commencement of this Act and is lodged with the Land Commission, the purchaser shall, in the event of the sale being carried out, be discharged from all liability to the vendor in respect of any liabilities affecting the holding at the date of the agreement, including all rent and arrears existing at such date; but if the advance is refused the agreement shall be void, and the tenant shall be liable to pay rent and arrears as if the agreement had not been made. Provided that no proceeding in respect of the said rent and arrears existing at the date of the agreement shall be brought pending the carrying out of the sale.
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(2) Interest on the purchase money from the date of the said agreement until the day from which the purchase annuity begins, shall be payable half-yearly on the first day of May and first day of November by the purchaser, and shall be paid to, and be collected and recoverable by, the Land Commission, in like manner as if it were an instalment of the purchase annuity charged upon the holding, and when received by them shall as respects the period subsequent to the date of the advance be applied in payment of the interest due under section twenty of the Land Law (Ireland) Act, 1887, and subject thereto shall be paid to the person in receipt of the rent at the date of the agreement or such other person as may prove himself to be entitled thereto, and if the advance is refused shall be allowed by the landlord to the tenant as a payment on account of rent.
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