Commentary

116 Termination, surrender and transfer of development rights

COMMONHOLD vol 8(1)
| Commentary

116 Termination, surrender and transfer of development rights

| Commentary

116 Termination, surrender and transfer of development rights

The period during which development rights are exercisable may be set out in the commonhold community statement. No maximum period is stipulated, and it is to be expected that developers will not wish to restrict themselves to a fixed period. The developer may continue to exercise development rights even after it has ceased to own any of the units; different rules (see below) apply to a successor to the original developer1.

A developer cannot exercise development rights once the works for which those rights were granted have been completed, other than development rights

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