The Housing Association Shared Ownership Leases (Exclusion from Leasehold Reform Act 1967 and Rent Act 1977) Regulations 1987

Article 3

SCHEDULE 2 LEASES FOR THE ELDERLY

Definition

1.  In paragraph 4 of Schedule 4A and in this Schedule, “lease for the elderly” means a lease to a person of or over the age of 55 at the date of the grant of the lease.

Requirements as respects leases for the elderly

2.  The prescribed requirements for the purposes of the condition in paragraph 4(2)(b) of Schedule 4A are that a lease for the elderly—

(a) shall contain a covenant by the landlord to provide the tenant with facilities which consist of or include access to the services of a warden and a system for calling him;

(b) shall contain an absolute covenant by the tenant not to underlet the whole or part of the demised premises;

(c) shall contain a covenant by the tenant not to assign or part with possession of the whole or part of the demised premises except—

(i) subject to such conditions as the lease may specify, to a person of or over the age of 55 at the date of the assignment; or

(ii) where the assignment is—

(a) by an executor or administrator of a deceased tenant to that tenant’s spouse if residing there at the date of the tenant’s death, or to a person residing there with the tenant at that date who is of or over the age of 55 at the date of the assignment; or

(b) if the lease so provides and subject to such conditions as the lease may specify, by a mortgagee or chargee exercising his power of sale;

(d) shall not provide for the tenant to acquire the interest of the landlord under an option to purchase.