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SCHEDULES

SCHEDULE 8Terms of Shared Ownership Lease

Payment for outstanding share on disposal.

8(1)Where the dwelling-house is a house and the landlord owns the freehold, the lease shall provide that on the discharge of a liability arising under the covenant required by paragraph 6—

(a)any person in whom the tenant’s interest in the dwelling-house is vested, or

(b)in the case of a compulsory disposal of a part of the dwelling-house, any person in whom that part is vested,

is entitled to require the freehold of the dwelling-house, or as the case may be that part of the dwelling-house, to be conveyed either to himself or to such other person as he may direct.

(2)The right so conferred is exercisable at any time during the term of the lease on the person referred to in sub-paragraph (1)(a) or (b) serving written notice on the landlord.

(3)As soon as practicable after such a right as is mentioned in sub-paragraph (1) has become exercisable by any person, the landlord shall serve on him a written notice—

(a)informing him of the right, and

(b)stating the provisions which, in the opinion of the landlord, should be contained in the conveyance.

(4)A conveyance executed in pursuance of such a right—

(a)shall conform with Parts I and II of Schedule 6 (terms of conveyance in pursuance of right to buy), and

(b)where the lease contains any such covenant as is mentioned in section 157 (restriction on disposal of dwelling-houses in National Parks, etc.), shall preserve the effect of that covenant;

and Part IV of Schedule 6 (charges) applies to such a conveyance as it applies to a conveyance of the freehold in pursuance of the right to buy.

(5)A notice required by this paragraph may be withdrawn at any time by notice in writing served on the landlord.