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Leasehold and Freehold Reform Act 2024

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Changes over time for: Paragraph 15

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Point in time view as at 24/07/2024. This version of this provision is prospective. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Leasehold and Freehold Reform Act 2024, Paragraph 15. Help about Changes to Legislation

Prospective

Meaning of “shared ownership lease”E+W

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15In section 37(1) (interpretation of Part 1)—

(a)after paragraph (b) insert—

(bza)landlord’s share”, in relation to a shared ownership lease, means the share in the premises demised by the lease which is not comprised in the tenant’s share;;

(b)after paragraph (d) insert—

(da)shared ownership lease” means a lease of premises—

(i)granted on payment of a premium calculated by reference to a percentage of the value of the premises or of the cost of providing them, or

(ii)under which the tenant (or the tenant’s personal representatives) will or may be entitled to a sum calculated by reference, directly or indirectly, to the value of the premises;

(db)tenant’s share”, in relation to a shared ownership lease, means the tenant’s initial share in the premises demised by the lease, plus any additional share or shares in those demised premises which the tenant has acquired;.

Commencement Information

I1Sch. 8 para. 15 not in force at Royal Assent, see s. 124(3)

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