There are outstanding changes not yet made by the legislation.gov.uk editorial team to Commonhold and Leasehold Reform Act 2002. Any changes that have already been made by the team appear in the content and are referenced with annotations.
1At the end of paragraph 5 of Schedule 15 to the Law of Property Act 1922 (perpetually renewable leases) (which becomes sub-paragraph (1)) there shall be added—
“(2)Sub-paragraph (3) applies where a grant—
(a)relates to commonhold land, and
(b)would take effect by virtue of sub-paragraph (1) as a demise for a term of two thousand years or a subdemise for a fixed term.
(3)The grant shall be treated as if it purported to be a grant of the term referred to in sub-paragraph (2)(b) (and sections 17 and 18 of the Commonhold and Leasehold Reform Act 2002 (residential and non-residential leases) shall apply accordingly).”
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