Glossary - Index "L"
Real Estate Terms and Site Index "L"
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Leasehold Valuation Tribunal - a body that deals with disputes over service charges and the purchase of leasehold property by tenants holding long leases. It can also appoint managers of leasehold properties when the landlords' managers are not acceptable. Leasehold valuation tribunals started operating in 1997 whereas previously county courts handled these disputes.
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Long-Leasehold - Almost all flats (apartments) in England and Wales are owned leasehold. A long leaseholder (tenant) has purchased the leasehold interest and therefore has the right to occupy the property for a fixed term of years. As tenant the leaseholder has certain rights and responsibilities to the landlord who is obliged to manage and maintain the whole building and the common parts. See Long-Leasehold Commonhold and LandlordZONE.co.uk/FAQ and LandlordZONE Forum
Never rely totally on this information which relates primarily to England & Wales. Before taking action or not, seek expert advice with the full facts of your case and all documents to hand.
