Property Interest

This terms is used throughout the HIP Regulations to describe the legal interest that the seller is proposing to sell. It is distinct from references to the property itself. The legal interest will be either a freehold or a leasehold interest, (an interest in a commonhold is a type of freehold interest). Putting a residential property on the market for sale will usually attract the duty to have a home information pack and a “sale” is defined (in section 177 of the 2004 Act) by reference to various freehold or leasehold interests. “Residential property” is defined (in section 148 of the 2004 Act) as meaning “premises in England and Wales consisting of a single dwelling-house including any ancillary land”. Therefore, a home information pack will be required for each dwelling that is on the market providing that the duties in the 2004 Act apply, unless exempted under Part 6 of the Regulations.