Question
Hello, I need help with a real estate law question. I will attach the scenario below and my questions. Thank you ! Scenario: On 28th
Hello, I need help with a real estate law question. I will attach the scenario below and my questions. Thank you !
Scenario: On 28th February 2020 the Competition & Markets Authority (CMA) published an update report on its investigation into Leasehold Housing. In this report the CMA stated: "The consequences of ground rent obligations can be severe for homeowners...but the justifications for it given to us seem at best limited."
Q1. Why have such 'onerous' ground rents arisen in long residential freeholds, and can they really be justified? Also, what would be the consequences faced by long residential leaseholders as a result?
This is all under UK jurisdiction.
Thank you so much for any help!
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