The Long Leases (Scotland) Act 2012 will come into force in Scotland on 28 November 2015, a tenant's interest under a qualifying lease will automatically convert to outright ownership of the property and the landlord's title to the property will be extinguished. Essentially this will mean the end of long leases. It is estimated there are around 9000 long leases that will be eligible to convert.
Qualifying Leases
To qualify, a lease must be:
- Registered/recorded
- Originally have been granted for a term of more than