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Leasehold and Freehold Reform Act 2024
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Freehold enfranchisements: the basis of the market value
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2(1)The paragraph applies to a freehold enfranchisement.
(2)The market value is the amount which the relevant freehold could have been expected to realise if it had been sold on the open market by a willing seller at the valuation date.
(3)In the following provisions of this Schedule, that market value is referred to as the market value of the relevant freehold.
(4)If the nominee purchaser acquires a leasehold interest in any property under section 21(4) of the LRHUDA 1993, but does not acquire the freehold of that property, a reference in this Schedule to the relevant freehold is a reference to the relevant freehold together with that leasehold interest.
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