Abolishing the Two-Year Rule: What It Really Means for Lease Extensions скачать в хорошем качестве

Abolishing the Two-Year Rule: What It Really Means for Lease Extensions

The abolition of the two-year ownership rule is a major shift in leasehold legislation—but what does it actually mean for buyers and sellers in today’s property market? In this episode, Charlie Davidson sits down with Mark Chick to unpack the real-world implications of this long-anticipated change under the Leasehold and Freehold Reform Act 2024. Together, they explore the origins of the two-year rule, why it existed in the first place, and how its removal impacts lease extensions, registration timelines, and strategic decision-making during property transactions. They also touch on the complexities that remain, including the notorious registration gap, and why buyers may still want sellers to serve notice even with the reform in place. Whether you're a buyer, seller, agent, or legal professional, this episode offers clear, practical insights into a change that’s set to affect thousands of transactions. Chapter Markers: [00:48] What was the two-year rule and why did it exist? [01:40] The implications of the Leasehold and Freehold Reform Act 2024 [03:24] Removing residence requirements and historic inconsistencies [04:58] Debunking the myth: Lease extensions still aren’t “quick fixes” [05:38] Understanding the registration gap and its real cost [06:54] How long can it take to register a property? (Hint: It’s longer than you think) [07:55] The importance of expert coordination during transactions [08:17] Why swift action is still crucial for short leases [08:42] Looking ahead: Further reforms on the horizon?