Paragraph 5A F1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 6 para. 3(1)(c) words substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(4)
Sch. 6 para. 4(2) words substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(5)(a)
Sch. 6 para. 4(2) words substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(5)(b)
Sch. 6 para. 10(2) word substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(6)
Sch. 6 words substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(2)
Sch. 6 words substituted by Commonhold and Leasehold Reform Act 2002 Sch. 8 para. 40(3)
Sch. 6 omitted by Leasehold and Freehold Reform Act 2024 s. 36(4)

(1)

Where different persons own the freehold of different parts of the specified premises—

(a)

a separate price shall be payable by the nominee purchaser for the freehold of each of those parts, and

(b)

sub-paragraph (2) shall apply to determine the price so payable.

(2)

Subject to sub-paragraph (3), the price payable by the nominee purchaser for the freehold of part of the specified premises shall be the aggregate of—

(a)

the value of the freeholder’s interest in the part as determined in accordance with paragraph 3, modified as mentioned in paragraph 5B, and

(b)

the freeholder’s share of the marriage value as determined in accordance with paragraph 4, modified as mentioned in paragraph 5C, and

(c)

any amount of compensation payable to the freeholder under paragraph 5.

(3)

Where the amount arrived at in accordance with sub-paragraph (2) is a negative amount, the price payable by the nominee purchaser for the freehold of the part shall be nil.

Annotations

Textual amendments

F1: Sch. 6 para. 5A-5C and cross heading inserted (1.10.1996) by 1996 c. 52, s. 107, Sch. 10 para. 18(5); S.I. 1996/2212, art. 2(2) (with saving in Sch.)

Notes on Schedule 6

Commencement

I1: Sch. 6 wholly in force at 1.11.1993 see s. 188(2) and S.I. 1993/2134, art. 5

Notes on Price payable for freehold of part of specified premises

Textual amendments

F1: Sch. 6 para. 5A-5C and cross heading inserted (1.10.1996) by 1996 c. 52, s. 107, Sch. 10 para. 18(5); S.I. 1996/2212, art. 2(2) (with saving in Sch.)