ÀÏ˾»úÎçÒ¹¸£Àû

Terminology used in relation to housing associations

Amalgamations

Associations formed under the Industrial & Provident Societies Act 1965 may amalgamate to form a new entity. Properties are transferred into the new entity by special resolution, thus avoiding the need and expense of any form of conveyance.

Community leasehold

This is now superseded by shared ownership. The difference under community leasehold is that the occupier is unable to increase his equity share in the property and thus buys and sells a set percentage stake in the property.

Consortium arrangements

Occasionally, associations join together to undertake large-scale developments which would also include joint arrangements procuring finance, services and goods at more favourable prices than could be obtained by a single association. In such circumstances it is normal to have a lead association which would secure contracts, etc and the other associations make contributions for their share of the costs.

Co-ownership association

An association registered as an Industrial & Provident Society under which membership is restricted to tenants or prospective