SDLTM27020 - Reliefs: Right to buy transactions, shared ownership leases etc

Conditions the shared ownership lease must fulfil FA03/SCH9/PARA2

The term shared ownership lease is not defined in the legislation.

The legislation defines what type of shared ownership transactions may qualify for relief by reference to a set of conditions all of which the lease agreement must fulfil to be eligible for the relief. The conditions are as follows

• the lease must be of a dwelling
• the lease must give the lessee (or lessees) exclusive use of the dwelling
• the lease must provide for the lessee (or lessees) to acquire the reversion
• the lease must be granted partly in consideration of rent and partly in consideration of a premium calculated by reference to

• the lease must contain a statement of

by reference to which the premium is calculated.

There are further conditions to be fulfilled for relief to be granted. See SDLTM27030.

For guidance on completion of form SDLT1 please see SDLTM27080.