Q&As

What issues can arise on purchasing a property that has a section 157 Housing Act 1985 restriction in the title?

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Published by a LexisNexis Property expert
Published on: 24 February 2016
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Part V of the Housing Act 1985 (HA 1985) gives extensive rights to those who hold secure tenancies under HA 1985 to purchase their homes. Provision is made for the circumstances in which those rights may be exercised and the price which must be paid for the acquisition of either the freehold in the case of most homes or a long leasehold interest in the case of flats.

It is not uncommon of course for a lease to have restrictions upon which the leaseholder can assign or sublet, albeit that the landlord cannot withhold consent unreasonably. HA 1985 goes further, however, in placing limitations upon disposals of either the freehold or leasehold interest acquired by the former tenant.

Arguably, best known is the requirement to repay a proportion of any discount in the Purchase price to which the former secure tenant was entitled when acquiring the interest where there is a subsequent disposal of it within the first five years of Ownership

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Purchase price definition
What does Purchase price mean?

The amount payable by a receivables purchaser to a client for a receivable assigned to it by the client, commonly calculated retrospectively as the amount received from a debtor towards the discharge of the receivable, less accrued discount and charges.

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