Residential Leasehold Reforms announcedAugust 2020
Currently, in England and Wales, properties are most often owned as either freehold or leasehold. But this arrangement has been exploited over the years, with tenants often having to endure highly onerous leasehold obligations. The Law Commission has just published proposals for reform of this system, re-introducing the concept of ‘commonhold’ property ownership in an attempt to redress the balance and give those who don’t have freehold ownership a greater sense of freedom to control their dealings with their properties.
In this article, Joe Bryant and Rhian Deacy explain the new reforms, and how they might impact the UK property market going forward.
To read the full article, please click on the link below.Download PDF