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Report on conversion of long leases laid before the Scottish Parliament by the Scottish Ministers under section 3(2) of the Law Commissions Act 1965 [electronic resource]

By: Language: English Publication details: Edinburgh The Stationery Office 2006Description: xiii, 269p. 30cmISBN:
  • 0108881946
Subject(s): LOC classification:
  • 346.41104346 $2 18
Online resources:
Partial contents:
Introduction -- Qualifying leases -- Conversion -- From leasehold conditions to real burdens -- Minerals and sporting rights -- Compensation -- Notices of exemption -- Miscellaneous topics -- Residential ground leases -- List of recommendations
Summary: Recommends that a conversion scheme be set up for leases granted for more than 175 years which have more than 100 years to run ("ultra-long" leases). Under the scheme, such leases would be converted to ownership on a particular day, extinguishing the residual ownership of the landlord. The landlord would be entitled to compensation, calculated as a multiplier of the rent. Although the scheme would be compulsory and automatic, there would be the possibility for the tenant to opt-out.

Introduction -- Qualifying leases -- Conversion -- From leasehold conditions to real burdens -- Minerals and sporting rights -- Compensation -- Notices of exemption -- Miscellaneous topics -- Residential ground leases -- List of recommendations

Recommends that a conversion scheme be set up for leases granted for more than 175 years which have more than 100 years to run ("ultra-long" leases). Under the scheme, such leases would be converted to ownership on a particular day, extinguishing the residual ownership of the landlord. The landlord would be entitled to compensation, calculated as a multiplier of the rent. Although the scheme would be compulsory and automatic, there would be the possibility for the tenant to opt-out.