The Re-Introduction of Commonhold
Those who have studied land law through an ILSPA course will already be familiar with the terms freehold and leasehold. These are legal definitions created by the Law of Property Act 1925 and relate to the extent of a person’s ownership of land. Another type of land ownership, commonhold, was introduced in 2002, but it struggled to establish itself and fewer than 20 commonhold developments have been built to date. This month, we are reporting on how this lack of interest in commonhold ownership may be about to change.