Bringing you live news and features since 2006 

Once a house, always a house


The UK Supreme Court decisions in Hosebay v Day and Lexgorge v Howard de Walden are a welcome clarification of the law, says Caroline DeLaney (pictured), partner and head of Real Estate Disputes at Kingsley Napley LLP…

What amounts to a “house” has been a question keeping the courts busy for a number of years and many court cases have been held up awaiting the Supreme Court’s ruling.
When the Leasehold Reform Act 1967 came into force, the meaning of “house” was never a contentious issue because of the requirement to live in the property. When the residency requirement was abolished in 2002, however, it opened the doors for the more astute commercial leaseholders to seek to buy the freeholds of converted properties that although once houses, no longer had any residential use. This was not the intention of the legislation at all. The Supreme Court has overruled the Court of Appeal’s decision of 2010 and confirmed that it is the property’s current use as a house, not its former use that is the determining factor. 
This decision will no doubt be met by a collective sigh of relief from the country’s large estate owners.


Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Lorraine Sereyjol-Garros, BNP Paribas
Following changes to the French Monetary and Financial Code and of the French market authority AMF’s General Regulation, it is...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by