CMA
13117 Points
Joined May 2009
Because person acquiring a right in a building by virtue of 269UA(f) shall be the deemed owner of the property:
269UA(f): giving property on lease for a term not <12 yrs whether fixed originally or there is a provision for extension and the aggregate period is not less than 12 yrs. It does not cover any right by way of month on month or for a period not exceeding one year.