The Leasehold Reform Act 1967
c 88
is an

Act of Parliament Acts of Parliament, sometimes referred to as primary legislation, are texts of law passed by the Legislature, legislative body of a jurisdiction (often a parliament or council). In most countries with a parliamentary system of government, acts of ...

of the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

, which concerns English land law and

compulsory purchase Compulsion may refer to: * Compulsive behavior, a psychological condition in which a person does a behavior compulsively, having an overwhelming feeling that they must do so. * Obsessive–compulsive disorder, a mental disorder characterized by ...

. 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 Harold Wilson was appointed Prime Minister of the United Kingdom by Queen Elizabeth II on 16 October 1964 and formed the first Wilson ministry, a Labour government, which held office with a thin majority between 1964 and 1966. In an attempt ...

Provisions and subsequent amendments

The 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 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 A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any ...

lenders. The Act has been amended many times to expand these rights, to homeowners having higher rateable values.

Background

English 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 Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a subcontinent of Eurasia and it is located entirel ...

where a more

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 ...

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 tribunal A leasehold valuation tribunal (LVT) was a statutory tribunal in England which determined various types of landlord and tenant dispute involving residential property in the private sector. An LVT consisted of a panel of three; one with a backgroun ...

s referred to as "Prime Central London".

References

{{reflist, 2 *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

External links

The Act as in force today
United Kingdom Acts of Parliament 1967

Provisions and subsequent amendments

Background

See also

References

External links