000			02531cad a22002895a 4500
001			L146351
008			090112e20081210xxk f v 000 0 eng d
035			_a(Sirsi) u146351
041	0		_aeng
245	0	0	_aEarl Cadogan v Pitts & Anor _bEarl Cadogan & Ors v Sportelli & Anor and two other actions _h[electronic resource]
260			_c2008
520			_a[2008] UKHL 71, 10 December 2008. In determining the price paid by nominee purchasers exercising a right to collective enfranchisement, hope value attributable to the possibility of non-participating tenants wishing to obtain new leases of their flats in the open market could be taken into account. The House of Lords had to decide (in five joined appeals), whether appellant landlords (C) were entitled to take hope value into account as an element when valuing their respective freeholds. Held: appeals allowed in part. Marriage and hope value were excluded from being taken into account when assessing the price payable for the purchase of the freehold. This was based on common sense and 'natural meaning' of the legislation involved. If marriage value was taken into account, it was logically impossible for hope value to also be factored in. As tenants would pay half the marriage value in the market, it made no sense that he would pay more while not being in the market, but with the possibility of being so in future. It would have been unfair to legislate to exclude from the valuation any consideration that the hypothetical purchaser might hope to sell the freehold to the tenants at a price enhanced by the marriage value, but not to exclude the prospect of selling them a lesser reversionary interest at a price improved by marriage value.
521			_aAdvanced
590			_aKA
650	2	4	_aIRC V CLAY
650	2	4	_aLEASEHOLD REFORM ACT 1967
650	2	4	_aLEASEHOLD REFORM, HOUSING AND URBAN DEVELOPMENT ACT 1993
650	2	4	_aEARL CADOGAN V PITTS & ANOR AND EARL CADOGAN & ORS V SPORTELLI & ANOR AND TWO OTHER ACTIONS
650	2	4	_aCOMMONHOLD AND LEASEHOLD REFORM ACT 2002 S145
650	2	4	_aCUSTINS V HEARTS OF OAK BENEFITS SOCIETY
650	2	4	_aHOUSING ACT 1969 S82
650	2	4	_aHOUSING ACT 1974
651		4	_aEngland and Wales _y1543-
690			_aRESIDENTIAL PROPERTY-RESIDENTIAL LANDLORD AND TENANT-RESIDENTIAL LEASES-RESIDENTIAL LEASEHOLD ENFRANCHISEMENT
856	4	0	_uhttps://www.publications.parliament.uk/pa/ld200809/ldjudgmt/jd081210/earl.pdf _zView the item free of charge at www.publications.parliament.uk...
942			_n0
999			_c109132 _d109132