Lexis®Library update: The LTA 1954 is the central piece of legislation that allows businesses the right to remain on their premises for a greater period of time. It has been 20 years since the last review was conducted. Many who rely on the LTA 1954 have complained that it is too out of date, overly bureaucratic, inefficient and costly. The Law Commission's review will look at the existing problems with the framework with the aim to modernise the legal regime in order to help business who rely on the LTA 1954 to grow.
In response to the announcement, Professor Nicholas Hopkins, the Law Commissioner for Property, Family and Trust Law, said 'Our wide-ranging review of this aspect of the Landlord and Tenant Act 1954 is a fresh opportunity to ensure that the law is simple and works for landlords, businesses and communities'. Dehenna Davison, the Parliamentary-Under Secretary for Levelling Up, said 'With this review of the legislation, we hope to remove the barriers that inhibit growth by modernising the legal framework and making sure it is fit for today’s market, supporting the efficient use of space and fostering a productive, beneficial leasing relationship between landlords and tenants'.
This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 28 March 2023 and is published with permission. Further information can be found at: www.lexisnexis.co.uk
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