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Leasehold and Freehold Reform Act 2024

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Changes over time for: Section 1

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Status:

Point in time view as at 24/07/2024.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, Section 1. Help about Changes to Legislation

Prospective

1Ban on grant or assignment of certain long residential leases of housesE+W

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(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.

Commencement Information

I1S. 1 not in force at Royal Assent, see s. 124(3)

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