Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
9th February 2022
The Leasehold Reform (Ground Rent) Act 2022 (“the 2022 Act”) received Royal Assent on 8 February 2022.
It seeks to restrict ground rents on newly created long leases of houses and flats (with some exceptions) to an annual rent of one peppercorn being intended to represent no financial value.
The 2022 Act applies to England and Wales and a duty is placed on local weights and measures authorities (trading standards authorities) in England and Wales to enforce the Act.
The provisions of the 2022 Act are expected to commence within six months of Royal Assent.