Interest in land (carbon covenant) created on registration of carbon covenant form
12 Interest in land (carbon covenant) created on registration of carbon covenant form
When a carbon covenant form is registered —
the carbon covenant that is the subject of the form is created and becomes a separate interest in the relevant carbon right; and
the proprietor of the carbon covenant is each person who is registered as the proprietor of the relevant carbon right.
A carbon covenant has effect even if it has the same proprietor as the burdened land.
Except to the extent that it otherwise provides, a carbon covenant —
benefits, attaches to, and runs with, the relevant carbon right; and
burdens, attaches to, and runs with, the burdened land.
A carbon covenant —
in relation to the relevant carbon right, is a hereditament; and
in relation to the burdened land, is an encumbrance.
The definition of “land” in the TLA includes hereditaments in freehold and Crown land.
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