Publication
Publication
In the King’s Speech 2024 the Government committed to publishing a draft Leasehold and Commonhold Reform Bill which would likely form the next piece of the jigsaw in its drive to simplify leasehold ownership and strengthen the rights of leaseholders. The Government has announced that, amongst other things, the Bill would intend to consult on options to restrict the sale of new leasehold flats/apartments and pave the way for commonhold to be the new default tenure for owners of flats/apartments.
In this issue of Real Estate Talking Points, Managing Associate Hannah O'Malley delves into the concept of commonhold, explores the reasons for its current unpopularity, the Law Commission’s recommendations and what changes may lie ahead.