Deserves developers’ attention now
Introduced by the Commonhold and Leasehold Reform Act 2002 (Royal Assent was given on 1 May 2002), the new form of land ownership, to be known as commonhold, is expected to come into existence by the summer of 2003.
If a project is on, or about to go on, the drawing board, it makes obvious sense to consider whether some or all of the units may be better marketed as commonholds.
The possible attractions may not be limited to residential developments: see
Responses to a government consultation document detailing proposed secondary legislation that will flesh out the provisions of the 2002 Act should be made by 22 November 2002: see
Relates articles:
Deserves developers’ attention now
Introduced by the Commonhold and Leasehold Reform Act 2002 (Royal Assent was given on 1 May 2002), the new form of land ownership, to be known as commonhold, is expected to come into existence by the summer of 2003.
If a project is on, or about to go on, the drawing board, it makes obvious sense to consider whether some or all of the units may be better marketed as commonholds.
The possible attractions may not be limited to residential developments: see A common purpose Estates Gazette 25 May 2002, p138, where Catriona Smith and Peter Reekie, of Penningtons, pay particular attention to multi-user developments.
Responses to a government consultation document detailing proposed secondary legislation that will flesh out the provisions of the 2002 Act should be made by 22 November 2002: see Commonhold draft published Estates Gazette 7 September 2002, p46.
Relates articles:
The third way for propeNovember 2000, p144.
All very well in theory Estates Gazette 7 April 2001, p144.
Skeleton arguments Estates Gazette 14 December 2002, p108.
