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A condominium is an ownership regime in which a building is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners. These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units. The term can be applied to the building or complex itself, and is sometimes applied to individual units. The term "condominium" is mostly used in the US and Canada, but similar arrangements are used in many other countries under different names.
The legal term apportionment, also called delimitation, is in general the distribution or allotment of proper shares, though may have different meanings in different contexts. Apportionment can refer to estate, the amount of compensation received by a worker and in respect of time.
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
As a legal term, ground rent specifically refers to regular payments made by a holder of a leasehold property to the freeholder or a superior leaseholder, as required under a lease. In this sense, a ground rent is created when a freehold piece of land is sold on a long lease or leases. The ground rent provides an income for the landowner. In economics, ground rent is a form of economic rent meaning all value accruing to titleholders as a result of the exclusive ownership of title privilege to location.
Commonhold is a system of property ownership in England and Wales. It involves the indefinite freehold tenure of part of a multi-occupancy building with shared ownership of and responsibility for common areas and services. It has features of the strata title and the condominium systems, which exist in Australia and the United States respectively. It was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to leasehold, and was the first new type of legal estate to be introduced in English law since 1925.
The Lands Tribunal was a tribunal in the United Kingdom created by the Lands Tribunal Act 1949 that had jurisdiction in England and Wales and Northern Ireland, although in the Northern Ireland context the term Lands Tribunal normally refers to a different body, the Lands Tribunal for Northern Ireland. The Lands Tribunal was unusual in having both first instance and appellate jurisdiction. The functions of the Lands Tribunal were transferred to the Upper Tribunal in June 2009 by the Transfer of Tribunal Functions Order 2009.
In English land law, a rentcharge is an annual sum paid by the owner of freehold land (terre-tenant) to the owner of the rentcharge (rentcharger), a person who need have no other legal interest in the land.
In England and Wales, the Commonhold and Leasehold Reform Act 2002 provides a right for leaseholders to change the appointment of the management of their building to another provider, by setting up a special company to take over from the freeholder those rights of appointment of management of the building.
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. Part 1 deals with commonhold and part 2 deals with leasehold reform. Some supplementary material is covered in part 3.
The Law of Property Act 1925 is a statute of the United Kingdom Parliament. It forms part of an interrelated programme of legislation introduced by Lord Chancellor Lord Birkenhead between 1922 and 1925. The programme was intended to modernise the English law of real property. The Act deals principally with the transfer of freehold or leasehold land by deed.
The Landlord and Tenant Act 1985 is a UK Act of Parliament on English land law. It sets minimum standards in tenants' rights against their landlords.
The history of rent control in England and Wales is a part of English land law concerning the development of rent regulation in England and Wales. Controlling the prices that landlords could make their tenants pay formed the main element of rent regulation, and was in place from 1915 until its abolition by the Housing Act 1988.
Compulsory purchase is the power to purchase rights over an estate in English land law, or to buy that estate outright, without the current owner's consent. In England and Wales, Parliament has granted several different kinds of compulsory purchase power, which are exercisable by various bodies in various situations. Such powers are meant to be used "for the public benefit". This expression is interpreted broadly.
A property tax known as "rates" has been levied in Hong Kong since 1845. The tax applies to all domestic and commercial properties unless exempted, and is based upon the rental value of the property, re-assessed each year. Formerly part of the revenue went to the Urban Council and, from 1986, the Regional Council, but since 2000 the whole amount goes to the Hong Kong Government.
Rent control in Scotland is based upon the statutory codes relating to private sector residential tenancies. Although not strictly within the private sector, tenancies granted by housing associations, etc., are dealt with as far as is appropriate in this context. Controlling prices, along with security of tenure and oversight by an independent regulator or the courts, is a part of rent regulation.
Marriage value, also called synergistic value, is a concept in property valuation. It is defined by the Royal Institution of Chartered Surveyors as "an additional element of value created by the combination of two or more assets or interests where the combined value is more than the sum of the separate values".
The Leasehold Reform Act 1967 is an Act of Parliament of the United Kingdom, which concerns English land law and compulsory purchase. A government bill, the law remains largely intact. It was passed by both Houses and had been tabled by ministers of the Labour government, 1964–1970.
James v United Kingdom [1986] is an English land law case, concerning tenants' (lessees') statutory right to enfranchise a home from their freeholder and whether specifically that right, leasehold enfranchisement, infringes the freeholder's human rights in property without being in a valid public interest.
In property valuation, a deferment rate is a discount rate applied to the current price of a property in order to assess the present value of the right to vacant possession of a residential property at the end of a leasehold to which the freehold is subject.
Fleecehold refers to the inclusion of onerous terms in the deeds of a freehold property or the lease of a leasehold property in the United Kingdom. The practice of fleecehold is known to be increasing in the UK, according to the results of FOI requests to the Land Registry. At a minimum, tens of thousands of houses are affected, but it is unknown how quickly the number is increasing. There have been several proposals by elected officials and campaign groups to abolish or mitigate the practice, and it has been questioned in Parliament and the devolved assemblies.