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By J
15/06/2011

Updating (some) leasehold valuations

The government is consulting on two technical (and, I suspect, wholly uncontroversial) changes to leasehold law. The consultation paper is available here, with responses required by September 12, 2011.

Security of tenure

Where a long lease comes to an end by effluxion of time then, subject to certain conditions and exclusions, the former leaseholder is entitled to remain in occupation as an assured tenant: Sch.10, Local Government and Housing Act 1989. One such condition is that the rental value does not exceed £25,000. That, of course, was because an assured tenancy was not originally allowed to have a rental value over £25,000 (Housing Act 1988, Sch.1, para.2). That was increased to £100,000 (in England) in October 2010 (see our post, here). The government proposes to increase the £25,000 limit in the 1989 Act to £100,000, so as to bring it in line with the 1988 Act.

Leasehold Enfranchisement under the 1967 Act

Tenants of leasehold houses are entitled to acquire the freehold of the house if, inter alia, the rental value when the lease was granted was less than £25,000. The government proposes increasing this to £100,000.

Interesting, no?

J is a barrister. He considers housing law to be the single greatest kind of law known to humankind and finds it very odd that so few people share this view.

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