The Long Leases (Scotland) Bill Reintroduced to Parliament
Posted: Tuesday 17 January 2012
The Long Leases (Scotland) Bill, which fell victim to the parliamentary calendar last year and was shelved ahead of May’s election, has been reintroduced.
The Bill has its roots in a Scottish Law Commission report of 2006, which was one of a series of reports published by the Commission relating to Scottish property law.
If enacted, the Bill would affect certain types of long lease which were originally granted for a period of longer than 175 years and that have over 100 years to run. Rough estimates provided by the Scottish Government suggest that there may be as many as 9,000 of these leases in existence.
Those leases which met the criteria set out in the Bill would convert to outright ownership by the tenant, with a set level of compensation being due to the landlord.
Property law expert Kenneth Mackay says “the possible implications of these proposed changes are potentially huge for both landlords and tenants. Anyone who thinks they may be affected by this upcoming change would be strongly advised to seek legal advice well in advance of the Bill being passed into law.”
If you would like to speak with Kenneth Mackay, you can email him on kenneth.mackay@morton-fraser.com, or telephone him on 0131 247 1078.
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