Leaseholders' Handbook - Plymouth Community Homes

What is Leasehold?
If your home is a flat or maisonette, it is part of a
larger building which is divided up into individual
units. There may be another property above, below
or next to yours, but still within the same building.
Leasehold ownership is defined as ownership of a
property that is not independent, but shares
things like the roof, the foundations, the entrance
halls and stairs of the building. The shared parts
of the building need to be looked after for the
benefit of all the individual residents and the costs
will be shared amongst them.
Your lease is a type of tenancy and is a legal
agreement between you and your landlord,
Plymouth Community Homes. It allows you to live
in your home for a set period of time. This is usually
a period of 125 years, starting from when the first
property in your building was sold. This is known
as the lease term.
If you bought your home on the open market, the
seller will have transferred the rights and
responsibilities to you under the lease for the rest
of the term.
Your lease sets out the terms of the contract that
you have with your landlord. It gives you certain
rights and responsibilities. It also gives your
landlord rights and responsibilities. These are
explained in greater detail later on in this
handbook.
The terms of a lease cannot usually be changed
by either party without the otherʼs consent. The
government sometimes makes changes to
leasehold legislation and this can override the
terms of existing leasehold agreements.
Your solicitor will normally give you a copy of your
lease when you buy your home. If you borrowed
money to buy your property your lender will
probably hold the original document. If you do not
have a copy of the lease you will be able to get
one from the Land Registry in Plymouth.
➪
Previous page | Contents page | Next page
➪
8