Leasehold Reform Act 1967 (c. 88)

SCHEDULES

[F1 SCHEDULE 4A E+W Exclusion of Certain Shared Ownership Leases

Textual Amendments

F1 Schedule 4A inserted by Housing and Planning Act 1986 (c. 63, SIF 75:1), s. 18, Sch. 4 para. 6

Certain leases granted by housing associations] E+W

3 (1) A lease granted by a housing association and which complies with the conditions set out in sub-paragraph (2) is excluded from the operation of this Part of this Act, whether or not the interest of the landlord still belongs to such an association.

(2) The conditions are that the lease—

(a) was granted for a term of 99 years or more and is not (and cannot become) terminable except in pursuance of a provision for re-entry or forfeiture;

(b) was granted at a premium, calculated by reference to the value of the house or the cost of providing it, of not less than 25 per cent., or such other percentage as may be prescribed, of the figure by reference to which it was calculated;

(c) provides for the tenant to acquire additional shares in the house on terms specified in the lease and complying with such requirements as may be prescribed;

(d) does not restrict the tenant’s powers to assign, mortgage or charge his interest in the house;

(e) if it enables the landlord to require payment for outstanding shares in the house, does so only in such circumstances as may be prescribed;

(f) provides for the tenant to acquire the landlord’s interest on terms specified in the lease and complying with such requirements as may be prescribed; and

(g) states the landlord’s opinion that by virtue of this paragraph the lease is excluded from the operation of this Part of this Act.

(3) In any proceedings the court may, if of the opinion that it is just and equitable to do so, treat a lease as satisfying the conditions in sub-paragraph (2) notwithstanding that the condition specified in paragraph (g) of that sub-paragraph is not satisfied.

(4) In this paragraph “housing association” has the same meaning as in the Housing Associations Act M1 1985.

Marginal Citations

M1 1985 c.69 (61).

4 (1) A lease for the elderly granted by a registered housing association and which complies with the conditions set out in sub-paragraph (2) is excluded from the operation of this Part of this Act at any time when the interest of the landlord belongs to such an association.

(2) The conditions are that the lease—

(a) is granted at a premium which is calculated by reference to a percentage of the value of the house or of the cost of providing it,

(b) complies, at the time when it is granted, with such requirements as may be prescribed, and

(c) states the landlord’s opinion that by virtue of this paragraph the lease will be excluded from the operation of this Part of this Act at any time when the interest of the landlord belongs to a registered housing association.

(3) In this paragraph—

“lease for the elderly” has such meaning as may be prescribed; and

“registered housing association” has the same meaning as in the Housing Associations Act M2 1985.

Marginal Citations

M2 1985 c. 69 (61).