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Commonhold
Commonhold is a system of property ownership in England and Wales. It involves the indefinite freehold tenure of part of a multi-occupancy building (typically a flat) with shared ownership of and responsibility for common areas and services. It has features of the strata title and the condominium systems, which exist in Australia and the United States respectively. It was introduced by the Commonhold and Leasehold Reform Act 2002 as an alternative to leasehold, and was the first new type of legal estate to be introduced in English law since 1925. An important difference between commonholds and leaseholds (leases) is that commonholds do not depreciate towards the end of their term (''term of years'' or in extraneous documents sometimes ''existence''). In the years since the 2002 Act became law, only a handful of commonholds have been registered, whilst hundreds of thousands of long leases have been granted during the same period. As of 3 June 2009, there were 12 commonhold resi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commonhold And Leasehold Reform Act 2002
The Commonhold and Leasehold Reform Act 2002 (c.15) is an Act of the Parliament of the United Kingdom. It introduced commonhold, a new way of owning land similar to the Australian strata title or the American condominium, into English and Welsh law. Part 1 deals with commonhold and part 2 deals with leasehold reform. Some supplementary material is covered in part 3. Commonholds were introduced to deal with the perceived unfairness of the existing leasehold system, and England and Wales being unique in not offering a legal option for ownership of common areas of shared buildings. Commonhold ownership has not become popular, and in 2018 the Law Commission launched a consultation into ways to expand usage of commonhold estates. See also *Leasehold estate *Leasehold Reform Act 1967 *Leasehold valuation tribunal References External linksRecords of Parliamentary debate relating to the Actfrom Hansard ''Hansard'' is the traditional name of the transcripts of parliamentary de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condominium
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex itself, as well as each individual unit within. Residential condominiums are frequently constructed as apartment buildings, but there are also rowhouse style condominiums, in which the units open directly to the outside and are not stacked, and on occasion "detached condominiums", which look like single-family homes, but in which the yards (gardens), building exteriors, and streets as well as any recreational facilities (such as a pool, bowling alley, tennis courts, and golf course), are jointly owned and maintained by a community association. Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the proper ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condominium
A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex itself, as well as each individual unit within. Residential condominiums are frequently constructed as apartment buildings, but there are also rowhouse style condominiums, in which the units open directly to the outside and are not stacked, and on occasion "detached condominiums", which look like single-family homes, but in which the yards (gardens), building exteriors, and streets as well as any recreational facilities (such as a pool, bowling alley, tennis courts, and golf course), are jointly owned and maintained by a community association. Unlike apartments, which are leased by their tenants, condominium units are owned outright. Additionally, the owners of the individual units also collectively own the common areas of the proper ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Apartment
An apartment (American English), or flat (British English, Indian English, South African English), is a self-contained housing unit (a type of residential real estate) that occupies part of a building, generally on a single story. There are many names for these overall buildings, see below. The housing tenure of apartments also varies considerably, from large-scale public housing, to owner occupancy within what is legally a condominium ( strata title or commonhold), to tenants renting from a private landlord (see leasehold estate). Terminology The term ''apartment'' is favored in North America (although in some cities ''flat'' is used for a unit which is part of a house containing two or three units, typically one to a floor). In the UK, the term ''apartment'' is more usual in professional real estate and architectural circles where otherwise the term ''flat'' is used commonly, but not exclusively, for an apartment on a single level (hence a 'flat' apartment). In some coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Commons Of The United Kingdom
The House of Commons is the lower house of the Parliament of the United Kingdom. Like the upper house, the House of Lords, it meets in the Palace of Westminster in London, England. The House of Commons is an elected body consisting of 650 members known as members of Parliament (MPs). MPs are elected to represent constituencies by the first-past-the-post system and hold their seats until Parliament is dissolved. The House of Commons of England started to evolve in the 13th and 14th centuries. In 1707 it became the House of Commons of Great Britain after the political union with Scotland, and from 1800 it also became the House of Commons for Ireland after the political union of Great Britain and Ireland. In 1922, the body became the House of Commons of the United Kingdom of Great Britain and Northern Ireland after the independence of the Irish Free State. Under the Parliament Acts 1911 and 1949, the Lords' power to reject legislation was reduced to a delaying power. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Law
Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property. Property can be exchanged through contract law, and if property is violated, one could sue under tort law to protect it. The concept, idea or philosophy of property underlies all property law. In some jurisdictions, historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal systems of loyalty and fealty. History Though the Napoleonic code was among the first government acts of modern times to introduce the notion of absolute ownership into statute, protection of personal property rights was present in medieval Islamic law and jurisprudence, and in more feudalist forms in the common law courts of medieval and early modern England. Theory The word ''property'', in everyda ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Housing Estates In Hong Kong
Private housing estate is a term used in Hong Kong for private mass housing – a housing estate developed by a private developer, as opposed to a public housing estate built by the Hong Kong Housing Authority or the Hong Kong Housing Society. It usually is characterised with a cluster of high-rise buildings, with its own market or shopping mall. Mei Foo Sun Chuen, built by Mobil, is the earliest (1965) and largest by number of blocks (99). Early real estate development in Hong Kong followed the urban street pattern: single blocks are packed along streets and most of them are managed independently, with quality varying from block to block. Private housing estates on the other hand provide integrated management throughout whole estate, attracting more affluent residents. Mei Foo Sun Chuen, Taikoo Shing, Whampoa Garden and City One Shatin are early notable examples. More projects followed and the idea became widely accepted as the middle class of Hong Kong emerged. Trends ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rentcharge
In English property law, a rentcharge is an annual sum paid by the owner of freehold land (terre-tenant) to the owner of the rentcharge (rentcharger), a person who need have no other legal interest in the land. They are often known as chief rents in the north west of England but the term ''ground rent'' is used in many parts of the country to refer to either a rentcharge or a rent payable on leasehold land. This is confusing because a true ground rent is a sum payable in relation to land held under a lease rather than freehold land. As a result, the first question a conveyancer or other adviser, such as the free Rentcharges Unit, will demand is information from the Land Registry, which the public can also obtain cheaply, as to whether the subjected land is freehold or held on a lease (a leasehold estate). History Rentcharge is a legal device which permitted an annual payment to be continually levied on a freehold property. A deed made with the parties' knowledge is legally effecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right To Manage
In the United Kingdom the Commonhold and Leasehold Reform Act 2002 provides a right for leaseholders to change the appointment of the management of their building to another provider, by setting up a special company to take over from the freeholder those rights of appointment of management of the building. One right to manage company per block/''Triplerose Ltd v 90 Broomfield Road RTM Co Ltd'' In March 2015 the Court of Appeal found in favour of Triplerose Ltd (freeholder) against 90 Broomfield Road (residents/lessees) in what was a landmark case. The court ruled: The result of this ruling is that no right-to-manage company can apply to manage multiple blocks on an estate. The right relates to a building, so, in an estate of separate blocks, each block would need to qualify separately and an individual RTM notice served. In the case of an estate of flats under the same management, it would be sensible to take over the management of the whole estate, but this would have to be ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freehold (law)
In common law jurisdictions such as England and Wales, Australia, Canada, and Ireland, a freehold is the common mode of ownership of real property, or land, and all immovable structures attached to such land. It is in contrast to a leasehold, in which the property reverts to the owner of the land after the lease period expires or otherwise lawfully terminates. For an estate to be a freehold, it must possess two qualities: immobility (property must be land or some interest issuing out of or annexed to land) and ownership of it must be forever ("of an indeterminate duration"). If the time of ownership can be fixed and determined, it cannot be a freehold. It is "An estate in land held in fee simple, fee tail or for term of life." The default position subset is the perpetual freehold, which is "an estate given to a grantee for life, and then successively to the grantee's heirs for life." England and Wales Diversity of freeholds before 1925 In England and Wales, before the Law of Pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Garden Square
A garden square is a type of communal garden in an urban area wholly or substantially surrounded by buildings; commonly, it continues to be applied to public and private parks formed after such a garden becomes accessible to the public at large. The archetypal garden square is surrounded by tall terraced houses and other types of townhouse. Because it is designed for the amenity of surrounding residents, it is subtly distinguished from a town square designed to be a public gathering place: due to its inherent private history, it may have a pattern of dedicated footpaths and tends to have considerably more plants than hard surfaces or large monuments. Propagation At their conception in the early 17th century each such garden was a private communal amenity for the residents of the overlooking houses akin to a garden courtyard within a palace or community. Such community courtyards date back to at least Ur in 2000 BC where two-storey houses were built of fired brick around an ope ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positive Covenants
A positive covenant is a kind of agreement relating to land, where the covenant requires positive expenditure by the person bound, in order to fulfil its terms. See also *English land law *Equitable servitude *Easement *Restrictive covenant A covenant, in its most general sense and historical sense, is a solemn promise to engage in or refrain from a specified action. Under historical English common law, a covenant was distinguished from an ordinary contract by the presence of a s ... * Halsall v Brizell, 1957 Notes and sources Property law {{law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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