Property solicitors voiced support this week for a new 'commonhold' property system as an order providing for its implementation in September was passed by Parliament.

The new form of tenure - which marks a radical break from the normal principles of freehold and leasehold ownership - will be one of the most significant developments for multi-owner occupiers in decades, solicitors said.


Solicitor Trevor Aldridge, a member of the Law Society's conveyancing and landlord committee, said: 'Commonhold has been described in Parliament as the greatest change to property law since 1925. It will be very significant because it will allow the easy, secure and satisfactory ownership of freehold flats.'


He added: 'Its application will be very wide, because it can relate to any building that is subdivided. It should be welcomed by solicitors because it tackles an ancient problem that has never been solved before, regarding how to impose positive obligations on a piece of land, and make those enforceable on a new owner when the property changes hands.'


James Driscoll, partner at City firm Trowers & Hamlins, said: 'While we expect commonhold to become quickly accepted among new residential property developments, it could also be a significant innovation for commercial developments. It would allow small and medium-sized enterprises to buy and control their own office or industrial unit within a bigger development.'


Under the system, enacted by the Commonhold and Leasehold Reform Act 2002, commonhold property will be divided into 'units' with a standard set of rights and duties set out by the legislation.