---
title: "Leasehold and Freehold Reform Act 2024 (LAFRA) — UK Leasehold Glossary"
url: https://manage.management/glossary/leasehold-and-freehold-reform-act-2024-lafra
description: "Reform legislation that aims to make it cheaper and easier for leaseholders to extend their lease or buy their freehold, bans most new leasehold houses, increases standard lease extension terms to 990 years, and improves transparency over service charges."
category: "Leasehold Law & Enfranchisement"
publisher: Manage.Management
language: en-GB
---

# Leasehold and Freehold Reform Act 2024 (LAFRA)

Reform legislation that aims to make it cheaper and easier for leaseholders to extend their lease or buy their freehold, bans most new leasehold houses, increases standard lease extension terms to 990 years, and improves transparency over service charges.

## Related Leasehold Law & Enfranchisement Terms

- [Assignment](https://manage.management/glossary/assignment): The legal act of transferring a lease from one person to another.
- [Collective Enfranchisement](https://manage.management/glossary/collective-enfranchisement): The legal right for a group of qualifying leaseholders to join together and buy the freehold of their building.
- [Enfranchisement](https://manage.management/glossary/enfranchisement): The general process of a leaseholder purchasing the freehold of their property.
- [Lease Extension](https://manage.management/glossary/lease-extension): The legal process for a qualifying leaseholder to add more years to their lease term (typically 90 years for a flat).
- [Right to Manage Company (RTM)](https://manage.management/glossary/right-to-manage-company-rtm): A company formed by leaseholders that gives them the legal right to take over the management of their building from the landlord, without buying the freehold.
- [Forfeiture](https://manage.management/glossary/forfeiture): The landlord's right to terminate a lease and repossess the property due to a serious breach of the lease terms by the leaseholder. It is a complex and highly regulated process.
- [Section 20 Notice](https://manage.management/glossary/section-20-notice): A formal notice a landlord must send to leaseholders before carrying out major works costing any individual more than £250 or entering into a long-term agreement.
- [Transfer Deed](https://manage.management/glossary/transfer-deed): The legal document that officially transfers ownership of a property from one person to another.

[All 155 UK leasehold glossary terms](https://manage.management/glossary)