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| Long title | An Act to make provision about commonhold land and to amend the law about leasehold property. |
|---|---|
| Citation | 2002 c.15 |
| Territorial extent | England and Wales |
| Dates | |
| Royal assent | 1 May 2002 |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
The Commonhold and Leasehold Reform Act 2002 (c.15) is an Act of the Parliament of the United Kingdom. It introduced commonhold, a new way of owning land similar to the Australian strata title or the American condominium, into English and Welsh law.[1][2] Part 1 deals with commonhold and part 2 deals with leasehold reform. Some supplementary material is covered in part 3.[3]
Commonholds were introduced to deal with the perceived unfairness of the existing leasehold system, and England and Wales being unique in not offering a legal option for ownership of common areas of shared buildings.[4][5] It gives leaseholders the right to manage their properties more actively, by taking control of some rights otherwise held by the freeholder. Commonhold ownership has not become popular,[6][7] and in 2018 the Law Commission launched a consultation into ways to expand usage of commonhold estates.[8][9]
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Leasehold reform | 990 year lease extension | Ground rent and marriage value abolished
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Proposed Changes to Leasehold
Transcription
See also
References
- ^ "Commonhold property ownership explained". BBC News Online. 3 October 2005. Retrieved 10 May 2020.
- ^ "Property ownership laws shaken up". BBC News Online. 27 September 2004. Retrieved 10 May 2020.
- ^ UK Legislation, Commonhold and Leasehold Reform Act 2002: Table of contents, accessed 4 August 2021
- ^ Bachelor, Lisa (19 June 2001). "Labour's plans for property sector". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
- ^ "Pledge on overhaul of leaseholds". BBC News Online. 10 June 1998. Retrieved 10 May 2020.
- ^ Bowcott, Owen (10 December 2018). "Expand 'commonhold' ownership system, government urged". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
- ^ "Commonhold tenure take-up low". 29 October 2005. Retrieved 10 May 2020.
- ^ "Commonhold". Law Commission. Retrieved 10 May 2020.
- ^ "Law Commission opens consultation on commonhold". The Law Society. Retrieved 10 May 2020.
External links
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This page was last edited on 14 January 2024, at 22:06