By Mitchell Labiak2018-12-10T17:29:00
The Law Commission has proposed the expansion of commonhold as a reaction to public and cross-party criticism of loopholes in the leasehold system. The announcement marks the beginning of a three-month public consultation on commonhold as an alternative to leasehold.
Commonhold was introduced through the Commonhold and Leasehold Reform Act 2002 as a new way to own property. It is a system which allows a person to own a freehold flat and at the same time be a member of the company which owns and manages the shared areas and the structure of the building.
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