Ban on grant or assignment of certain long residential leases of houses
1Ban on grant or assignment of certain long residential leases of houses
(1)A person may not grant or enter into an agreement to grant a long residential lease of a house on or after the day on which this section comes into force, unless it is a permitted lease (see section 7).
(2)A person may not assign or enter into an agreement to assign the whole or a part of a lease which was granted on or after the day on which this section comes into force if—
(a)at the time of the assignment the lease is a long residential lease of a house, but
(b)at the time of the grant the lease was not a long residential lease of a house.
(3)This section does not affect—
(a)the validity of a lease granted, or an assignment entered into, in breach of this section, and does not affect the powers of a person to grant or assign such a lease (whether under section 23(1) of the Land Registration Act 2002 or otherwise);
(b)any contractual rights of a party to an agreement entered into in breach of this section.