The Law Commission has published its leasehold reform report and amongst its recommendations are the following:
- An improved form of Commonhold ownership. Commonhold was introduced about twenty years ago but never took off. It enables leaseholders to own the freeholds of their flat with the rest of the building owned and jointly managed by the leaseholders via a commonhold association.
2. To allow leaseholders of houses and flats to extend their leases for 990 years instead of the current 50 and 90 years.
3. An improved Right to Manage process, including the removal of the requirement of the leaseholders to pay the freeholder’s costs of an RTM claim.
These proposals are now with the Government, who will decide which ones will make it on to the statute book.