SCHEDULES
SCHEDULE 3Excluded residential tenancy agreements
Long leases
I1I213
1
An agreement that—
a
is, or is for, a long lease, or
b
grants a right of occupation for a term of 7 years or more.
2
“Long lease” means—
a
in relation to England and Wales, a lease which is a long lease for the purposes of Chapter 1 of Part 1 of the Leasehold Reform, Housing and Urban Development Act 1993 or which, in the case of a shared ownership lease (within the meaning given by section 7(7) of that Act), would be such a lease if the tenant's total share (within the meaning given by that section) were 100 per cent;
b
in relation to Scotland, has the meaning given by section 9(2) of the Land Registration (Scotland) Act 2012.
3
An agreement does not grant a right of occupation for a term of 7 years or more if the agreement can be terminated at the option of a party before the end of 7 years from the commencement of the term.