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Mortgages.
[New in pt. cf. 1958, s. 8; 1967, s. 24 (1)]
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80.—(1) For the purposes of the application to any person of the provisions of this Act relating to the grant to him of any estate or interest in land, the existence of a mortgage on the interest of that person shall be disregarded.
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(2) Where, either before or after the commencement of this Act—
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(a) a lessee executes a mortgage by subdemise of the whole or part of the land comprised in his lease, retaining a nominal reversion therein, and
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(b) the land comprised in the subdemise is sold for the enforcement of the mortgage,
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the purchaser shall, for the purposes of this Act, be deemed to have acquired the interest of the lessee in the demised land for the entire of the unexpired term of the lease, including the period of the nominal reversion.
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