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The Leasehold Reform Act 1967 (c. 88) is an act of Parliament of the United Kingdom, which concerns English land law and compulsory purchase. A government bill, the law remains largely intact. It was passed by both Houses and had been tabled by ministers of the Labour government, 1964–1970.
| Act of Parliament | |
 | |
| Long title | An Act to enable tenants of houses held on long leases at low rents to acquire the freehold or an extended lease; to apply the Rent Acts to premises held on long leases at a rackrent, and to bring the operation of the Landlord and Tenant Act 1954 into conformity with the Rent Acts as so amended; to make other changes in the law in relation to premises held on long leases, including amendments of the Places of Worship (Enfranchisement) Act 1920; and for purposes connected therewith. |
|---|---|
| Citation | 1967 c. 88 |
| Dates | |
| Royal assent | 27 October 1967 |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
Provisions and subsequent amendments
editThe act grants the right to long leaseholders of houses let at low and moderately low rents to buy their homes compulsorily from their landlords at a fair price.
Initially the 1967 act applied only to homes below these rateable values: £400 p.a. in London and £200 p.a. elsewhere (thus targeting low-to-middle income homeowners); the reform coincided with lower wages becoming less of a bar to access to loans from major mortgage lenders. The act has since been amended on a number of occasions to expand these rights, to homeowners having higher rateable values.[1]
Background
editEnglish law and lending eschews the concept of flying freehold entire properties, such as flats. The solution was to set up a standard model of any flat ownership based on landlord and tenant but which is not seen in much of Europe where a more commonhold system of ownership is common, as long-term flat owners wish to gain a greater than 'transient' or 'time-barred' interest in their home. Such long leases were already in use in housing, as before purpose-built apartments were built, an aristocratic or other large capitalist landlord could co-steer the successful, competitive development of their urban estates; these took the initial form of "building leases" then leases to allow the flexibility of the landlord deciding whether to create apartments, extensions, shorter-term lettings all of which liberties have been tempered by law or by secured lending codes to enhance the status of long-term lessees. The dozen or so private great collections of reversions continue the landlord-tenant relation with piecemeal reductions, across the Central London grander residential zones, in the leasehold valuation tribunals referred to as "Prime Central London".
See also
editReferences
edit- ^ Lloyd, Ben (5 March 2024). "Westminster update: Leasehold and Freehold Bill government amendments announced". www.lawsociety.org.uk. Retrieved 10 April 2024.
- K Gray and SF Gray, Land Law (7th edn 2011) Ch 11
- K Gray and S Gray, ‘Private Property and Public Propriety’, in J McLean (ed), Property and the Constitution (Hart 1999) 36-7