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	Statutes of Northern Ireland
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SETTLED LAND ACT 1889

SETTLED LAND ACT 1889 - LONG TITLE

An Act to amend the Settled Land Act, 1882.
[12th August 1889]
Construction and short title.

SETTLED LAND ACT 1889 - SECT 1

1. This Act shall be construed as one with the Settled Land Acts,
1882 to 1887, and may be cited together with those Acts as the
Settled Land Acts, 1882 to 1889, and separately as the Settled Land
Act, 1889.

SETTLED LAND ACT 1889 - SECT 2
Option of purchase in building lease.

2. Any building lease, and any agreement for granting building
leases, under the Settled Land Act, 1882, may contain an option, to
be exercised at any time within an agreed number of years not
exceeding ten, for the lessee to purchase the land leased at a
price fixed at the time of the making of the lease or agreement
for the lease, such price to be the best which having regard to
the rent reserved can reasonably be obtained, and to be either a
fixed sum of money or such a sum of money as shall be equal to
a stated number of years purchase of the highest rent reserved by
the lease or agreement.

SETTLED LAND ACT 1889 - SECT 3
Price to be capital money.

3. Such price when received shall for all purposes be capital money
arising under the Settled Land Act, 1882.