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The Leasehold Reform (Ground Rent) Act 2022 (c. 1) is an act of the Parliament of the United Kingdom.It defined the peppercorn rent as a price of one peppercorn per year and prohibited ground rent greater than that price on new leases.
The legislation follows the Leasehold Reform (Ground Rents) Act 2022, which put an end to ground rents for new, qualifying long residential leasehold properties in England and Wales.
The government has promised the biggest shakeup of property law in England in 40 years, affecting millions of current and future buyers.
The issue arises as it had been common practice in England until June 2022 for flats – and occasionally houses – to be sold on the basis that the purchaser obtains a lease usually of 99 years or longer at a modest rent – described as a ground rent – and pays close to a freehold price for doing so. The Leasehold Reform (Ground Rent) Act ...
In response to the ground rent scandal of the 2010s, the Leasehold Reform (Ground Rent) Act 2022 defines a peppercorn rent for the first time in English law as an annual rent of one actual peppercorn and limits ground rent on most new residential long leases to that amount. Besides there being no obligation for a landlord to actually levy the ...
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An Act to authorise the use of resources for the year ending with 31 March 2023; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2022. [h]
The UK government is promising to end 'unfair' costs for leaseholders in England, with a string of legal reforms announced on Thursday.