Rent and benefit of lessee’s covenants to run with the reversion

(1) Rent reserved by a lease, and the benefit of every covenant or provision therein contained, having reference to the subject-matter thereof, and on the lessee’s part to be observed or performed, and every condition of re-entry and other condition therein contained, shall be annexed and incident to and shall go with the reversionary estate in the land, or in any part thereof, immediately expectant on the term granted by the lease, notwithstanding severance of that reversionary estate, and without prejudice to any liability affecting a covenanter or his estate. (2) Any such rent, covenant or provision shall be capable of being recovered, received, enforced and taken advantage of, 20 by the person from time to time entitled, subject to the term, to the income of the whole or any part, as the case may require, of the land leased. (3) Where that person becomes entitled by transfer or other-wise, such rent, covenant or provision may be recovered, received, enforced or advantage of by him, notwithstanding that he becomes so entitled after the condition of re-entry or forfeiture has become enforceable, but this subsection does not render enforceable any condition of re- entry or other condition waived or released before such person becomes entitled as aforesaid. (4) This section applies to leases made before or after the commencement of this Act, but does not affect the operation of, (a) any severance of the reversionary estate; or (b) any requisition by transfer or otherwise of the right to receive or enforce any rent, covenant or provision, effected before the commencement of this Act.