Slow on the uptake
Fetherstonhaugh, Guy
Slow on the uptake - 2005 - Estates Gazette (0535) 3 September 2005, 104-106(3) .
Investigates why commonholds have not been taken up more enthusiastically by the housing world and volume builders in particular. Summarises the unsatisfactory aspects of freehold and leasehold, the alternative methods of owning property. Sees major legislative surgery being necessary if commonhold is not to be restricted to very small housing developments. Larger residential developments require a social housing element and social housing schemes are usually funded through shared ownership schemes. The Commonhold and Leasehold Reform Act 2002 and its regulations prohibit the combination of commonhold and leasehold by banning the creation of any residential lease in a commonhold for a term exceeding seven years and by requiring any existing leases in a development converting to a commonhold to be extinguished. Any developer of large residential developments will shun commonhold until this problem is resolved. Suggests a trust model might be developed to serve as an alternative structure for social housing schemes.
WILLIAMS V KILEY T/A CK SUPERMARKETS LTD
COMMONHOLD AND LEASEHOLD REFORM ACT 2002
Slow on the uptake - 2005 - Estates Gazette (0535) 3 September 2005, 104-106(3) .
Investigates why commonholds have not been taken up more enthusiastically by the housing world and volume builders in particular. Summarises the unsatisfactory aspects of freehold and leasehold, the alternative methods of owning property. Sees major legislative surgery being necessary if commonhold is not to be restricted to very small housing developments. Larger residential developments require a social housing element and social housing schemes are usually funded through shared ownership schemes. The Commonhold and Leasehold Reform Act 2002 and its regulations prohibit the combination of commonhold and leasehold by banning the creation of any residential lease in a commonhold for a term exceeding seven years and by requiring any existing leases in a development converting to a commonhold to be extinguished. Any developer of large residential developments will shun commonhold until this problem is resolved. Suggests a trust model might be developed to serve as an alternative structure for social housing schemes.
WILLIAMS V KILEY T/A CK SUPERMARKETS LTD
COMMONHOLD AND LEASEHOLD REFORM ACT 2002