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If a participant in the NICHA scheme or his purchaser wishes to buy out NICHA, does the transaction trigger a CFR application?

April 26, 2017application buy CFR participant purchaser Scheme transaction Trigger wishes

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If a participant in the NICHA scheme or his purchaser wishes to buy out NICHA, does the transaction trigger a CFR application?

1 Answer

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A. This triggers compulsory first registration and the unregistered 99 year sub-lease is extinguished by merger in the deed. The consequent application for first registration relates to the title previously held by NICHA and acquired by the applicant in the buy out.