Part 2Leasehold reform
Chapter 3New leases for tenants of flats
Purchase price
I1136 Disregard of marriage value in case of very long leases
1
Paragraph 4 of Schedule 13 to the 1993 Act (meaning of marriage value) is amended as follows.
2
In sub-paragraph (2), insert at the beginning “
Subject to sub-paragraph (2A),
”
.
3
After that sub-paragraph insert—
2A
Where at the relevant date the unexpired term of the tenant’s existing lease exceeds eighty years, the marriage value shall be taken to be nil.