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Housing: Leasehold

Volume 458: debated on Monday 26 March 2007

To ask the Secretary of State for Communities and Local Government what plans she has to review the marriage value on properties where the lease has less than 80 years to run; and if she will make a statement. (128102)

The Commonhold and Leasehold Reform Act 2002 amended the Leasehold Reform, Housing and Urban Development Act 1993 so that marriage value would be disregarded where the unexpired term of the existing lease exceeds 80 years. For existing leases where the unexpired term is 80 years or less, marriage value is split 50/50 between the leaseholder and the landlord. We have no current plans to review the way marriage value is treated.