Commonhold and Leasehold Reform Act 2002

United Kingdom legislation
Commonhold and Leasehold Reform Act 2002
Long titleAn Act to make provision about commonhold land and to amend the law about leasehold property.
Citation2002 c.15
Territorial extent England and Wales
Dates
Royal assent1 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Text of statute as originally enacted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]

See also

  • Leasehold estate
  • Leasehold Reform Act 1967
  • Leasehold valuation tribunal

References

  1. ^ "Commonhold property ownership explained". BBC News Online. 3 October 2005. Retrieved 10 May 2020.
  2. ^ "Property ownership laws shaken up". BBC News Online. 27 September 2004. Retrieved 10 May 2020.
  3. ^ UK Legislation, Commonhold and Leasehold Reform Act 2002: Table of contents, accessed 4 August 2021
  4. ^ Bachelor, Lisa (19 June 2001). "Labour's plans for property sector". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
  5. ^ "Pledge on overhaul of leaseholds". BBC News Online. 10 June 1998. Retrieved 10 May 2020.
  6. ^ Bowcott, Owen (10 December 2018). "Expand 'commonhold' ownership system, government urged". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
  7. ^ "Commonhold tenure take-up low". 29 October 2005. Retrieved 10 May 2020.
  8. ^ "Commonhold". Law Commission. Retrieved 10 May 2020.
  9. ^ "Law Commission opens consultation on commonhold". The Law Society. Retrieved 10 May 2020.

External links

  • Records of Parliamentary debate relating to the Act from Hansard, at theyworkforyou.com
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