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Commonhold - A New Beginning.(an alternative to the unpopular leasehold system)
Originally published October 2004
On 27 September 2004 the provisions of the Commonhold and Leasehold Reform Act 2002 introducing Commonhold commenced.
Introduction
Commonhold is not a new estate or interest in land, but a type of freehold created out of registered land. It is an alternative to the unpopular leasehold system.
It is suitable for houses, mixed use and commercial developments and it is likely to be used at least initially on new developments.
The owners of each unit within a development are themselves in control of the development, without a landlord or other party able to make decisions about how the development is run.
The owners of commonhold units may not be restricted from selling or mortgaging their units. Restrictions on the ability of owners of…
- Commonhold - A New Beginning.
- News wire article from: Mondaq Business Briefing February 15, 2005 700+ words
...limited company, called the Commonhold Association (CA). Membership of the CA is...the unit holders within the commonhold. The CA must be a private limited...through membership of the CA. The commonhold will be managed by the CA...
- From commonhold to commonplace.
- Magazine article from: Estates Gazette September 25, 2004 700+ words
...commonhold. In any event, commonhold units are sold freehold...must be vested in a commonhold association (CA), and the developer...community assessment" under commonhold, is not subject to...would be arranged by the CA rather than by the developer...
- Commercial Commonhold Schemes.
- News wire article from: Mondaq Business Briefing September 2, 2004 700+ words
...The Government has announced that Commonhold schemes can be set up from 27 September...will now be thinking about whether a Commonhold scheme will be suitable for their proposed developments. Commonhold schemes will be far simpler to set...
- Commonhold: Freeholds for Sale!(Brief Article)
- News wire article from: Mondaq Business Briefing May 20, 2002 700+ words
...term leases rather than freehold. The Commonhold and Leasehold Reform Act came into being upon 1 May 2002 and introduced the concept of commonhold to overcome the problem. In a commonhold development it will be possible for units...
- Commonhold fails to grip us: key lease reform leaves UK market strangely...
- Magazine article from: Property Week Freeman, Susan January 17, 2003 700+ words
THE LONG-AWAITED ADVENT OF COMMONHOLD, WHICH marks the end of feudalism, is almost upon us. The Commonhold and Leasehold Reform Act received royal...being greeted with enthusiasm? Without commonhold, there is no simple way of enforcing...
- Lenders have fears.(Commonhold a new form of land ownership)(Council of...
- Magazine article from: Estates Gazette Danskin, David June 18, 2005 700+ words
Commonhold has not been a runaway success, as...lending help? By David Danskin Now that commonhold has arrived, will developers be willing to adopt it? Will we see a rash of new commonhold developments or will developers tend...
- Common sense: when the new commonhold tenure becomes available next month,...
- Magazine article from: Property Week Baker, Chris Fenn, Katharine August 27, 2004 700+ words
AFTER MANY FALSE STARTS, COMMONHOLD BECOMES A reality in England and Wales on 27 September. The new law is enshrined in the Commonhold and Leasehold Reform Act 2002 and the Commonhold Regulations 2004. Commonhold provides a new...
- Little in common: one year on from the introduction of commonhold legislation,...
- Magazine article from: Property Week Shepherd, Mark October 28, 2005 700+ words
...his company is considering building commonhold schemes. 'It is not really on my agenda...One year after the introduction of the Commonhold and Leasehold Reform Act, this week...Pembroke total 59 houses and flats. Under commonhold, buyers take freehold units but must...
- Existing arrangements mean there's no need for commonhold.(Letters)(Letter to...
- Magazine article from: Property Week Gwynn, Simon Danskin, David November 11, 2005 700+ words
...p68) refers to the slow take-up of commonhold as being the result of apathy and lethargy...leaseholders. Why would a developer prefer commonhold when there exists a perfectly adequate...properly would mitigate the purpose of commonhold. In my experience, leaseholders simply...
- Professional advice: this week, commonhold ownership, new financial reporting...
- Magazine article from: Property Week November 11, 2005 700+ words
...head about property ownership called commonhold. What is it? CHRIS BAKER, ASSOCIATION...PARTNER AT DAVIES ARNOLD COOPER, RESPONDS COMMONHOLD IS A SYSTEM OF FREEHOLD ownership that...previously available in the market. Under commonhold a building or land is subdivided into...
Source: HighBeam Research, Commonhold - A New Beginning.(an alternative to the unpopular...
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