Leasehold Reform
Leasehold reform refers to changes in laws and policies governing leasehold properties, where individuals own the right to use a property for a set period but do not own the land itself. Recent reforms aim to improve fairness for leaseholders by addressing issues like high ground rents, complex lease terms, and the process of extending leases or buying the freehold. The goal is to protect leaseholders from exploitation, enhance transparency, and make ownership more affordable and equitable, allowing people to secure their homes without excessive costs or legal burdens.
Additional Insights
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Leasehold reform refers to changes in laws and regulations that govern leasehold properties, where a person buys the right to occupy a property for a fixed term but doesn’t own the land it sits on. This reform aims to protect leaseholders from excessive ground rents and unfair lease terms. It seeks to make the process of extending leases and buying freeholds more straightforward and affordable. Overall, leasehold reform aims to enhance the rights of leaseholders, promoting fairness and transparency in property ownership and management.