Act of Parliament | |
Long title | An Act to make provision about commonhold land and to amend the law about leasehold property. |
---|---|
Citation | 2002 c.15 |
Territorial extent | England and Wales |
Dates | |
Royal assent | 1 May 2002 |
Status: Current legislation | |
Text of statute as originally enacted | |
Text of the Commonhold and Leasehold Reform Act 2002 as in force today (including any amendments) within the United Kingdom, from legislation.gov.uk. |
The Commonhold and Leasehold Reform Act 2002 (c. 15) is an act of the Parliament of the United Kingdom. It introduced commonhold, a new way of owning land similar to the Australian strata title or the American condominium, into English and Welsh law. [1] [2] Part 1 deals with commonhold and part 2 deals with leasehold reform. Some supplementary material is covered in part 3. [3]
Commonholds were introduced to deal with the perceived unfairness of the existing leasehold system, and England and Wales being unique in not offering a legal option for ownership of common areas of shared buildings. [4] [5] It gives leaseholders the right to manage their properties more actively, by taking control of some rights otherwise held by the freeholder. Commonhold ownership has not become popular, [6] [7] and in 2018 the Law Commission launched a consultation into ways to expand usage of commonhold estates. [8] [9]
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