{
  "url": "https://openlegislation.uk/housing-shared-ownership-leases-exclusion-from-leasehold-reform-act-1967-england-regulations-2009/regulation-3",
  "json_url": "https://openlegislation.uk/housing-shared-ownership-leases-exclusion-from-leasehold-reform-act-1967-england-regulations-2009/regulation-3.json",
  "legislation": "uksi/2009/2097",
  "legislation_title": "The Housing (Shared Ownership Leases) (Exclusion from Leasehold Reform Act 1967) (England) Regulations 2009",
  "legislation_url": "https://openlegislation.uk/housing-shared-ownership-leases-exclusion-from-leasehold-reform-act-1967-england-regulations-2009",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Meaning of “market value price”, etc",
  "text": "(1) For the purposes of these Regulations, “market value price” means the amount which the interest in the house of the tenant would fetch, if sold on the open market by a willing vendor, on the assumption that the tenant had previously purchased 100 per cent of the shares in the house, disregarding the following matters—\n(a) any mortgage of the tenant’s interest;\n(b) any interest in or right over the house created by the tenant;\n(c) any improvement made by the tenant or any predecessor in title of the tenant; and\n(d) any failure by the tenant or any predecessor in title of the tenant to carry out any repairing obligations under the lease.\n(2) Subject to paragraph (3), the market value price shall be agreed between the landlord and the tenant, or determined in a manner agreed between them..\n(3) Where the landlord and tenant are unable to agree the manner in which the market value price should be determined they may appoint an independent expert to determine the price.\n(4) If the landlord and tenant are unable to agree on the person to be appointed, either party may apply to the President of the Royal Institution of Chartered Surveyors for the market value price to be determined by the President or such person as he may nominate.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2009/2097/regulation/3",
    "retrieved_at": "2026-10-29T03:07:17.417415+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}