Commentary

66 Shared ownership leases

COMMONHOLD vol 8(1)
| Commentary

66 Shared ownership leases

| Commentary

66 Shared ownership leases

A shared ownership lease is a lease granted at a premium which is a proportion of the cost or value of the property leased and under which the lessee pays a rent which is a proportion of the market rent of the property; the rent payable is the inverse proportion of the proportion paid of value or cost. The term granted is commonly 99 years, and the lease must be mortgageable. Shared ownership leases of dwellings are typically granted by housing associations to persons who are unable to purchase property on the open market1.

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