The Leasehold Reform (Ground Rent) Bill received Royal Assent on 8 February 2022. The main elements of it, i.e. the ground rent restrictions themselves, remained to be brought into force by regulations. This has now taken place; The Leasehold Reform (Ground Rent) Act 2022 (The Act) will come into force on 30 June 2022.
For retirement home leases, the provisions will not take effect before 1 April 2023 to allow the retirement sector time to adjust.
The government announcement around this said that this “puts to an end ground rents for new, qualifying long residential leasehold properties in England and Wales. This is part of the most significant changes to property law in a generation.”
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