Commonhold and Leasehold Reform Act 2002

Commonhold and Leasehold Reform Act 2002
Act of Parliament
Parliament of the United Kingdom
Long titleAn Act to make provision about commonhold land and to amend the law about leasehold property.
Citation2002 c.15
Territorial extent England and Wales
Dates
Royal assent1 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Text of statute as originally enacted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]

  1. ^ "Commonhold property ownership explained". BBC News Online. 3 October 2005. Retrieved 10 May 2020.
  2. ^ "Property ownership laws shaken up". BBC News Online. 27 September 2004. Retrieved 10 May 2020.
  3. ^ UK Legislation, Commonhold and Leasehold Reform Act 2002: Table of contents, accessed 4 August 2021
  4. ^ Bachelor, Lisa (19 June 2001). "Labour's plans for property sector". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
  5. ^ "Pledge on overhaul of leaseholds". BBC News Online. 10 June 1998. Retrieved 10 May 2020.
  6. ^ Bowcott, Owen (10 December 2018). "Expand 'commonhold' ownership system, government urged". The Guardian. ISSN 0261-3077. Retrieved 10 May 2020.
  7. ^ "Commonhold tenure take-up low". 29 October 2005. Retrieved 10 May 2020.
  8. ^ "Commonhold". Law Commission. Retrieved 10 May 2020.
  9. ^ "Law Commission opens consultation on commonhold". The Law Society. Retrieved 10 May 2020.