‘Last time this column discussed the changes introduced to leasehold tenure in Scotland. Nicola Muir examined the long-term package of reforms designed to bring about the demise of the feudal and leasehold system north of the border. To recap, Scotland is about to implement the changes introduced by the Long Leases (Scotland) Act 2012, which follows the imposition in 1974 of a 20 year limit on the term of any new residential lease and the abolition of the feudal system of property ownership in 2004. In 2000 a limit of 175 years was imposed on the term of commercial leases. The final stage of reforms under the 2012 Act will convert qualifying leases into ownership. ‘
Tanfield Chambers, 20th March 2015
Source: www.tanfieldchambers.co.uk
