Commonhold and Leasehold Reform Act 2002
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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
References
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- ↑ UK Legislation, Commonhold and Leasehold Reform Act 2002: Table of contents, accessed 4 August 2021
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External links
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