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A look at the potential consequences
Currently, in England and Wales, properties are most often owned as either freehold or leasehold. Freehold owners have absolute and permanent ownership of land and/or property, whereas leasehold owners own land and/or property for a set number of years, on a lease from a landlord who owns the freehold.
Leasehold ownership has attracted a significant amount of attention in recent years, especially on the issue of ground rent. It came to light that a significant number of leases contained onerous provisions for tenants, such as expensive service charges and fees payable to the landlord by way of permission to carry out certain works on – or legal dealings over – the property. Most recently, it has been the practise of rapidly escalating ground rent provisions that has caught the
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