<b><b>The Commonhold Bill became law in May. Nigel Bannister, chief executive of the Peverel Group, which has expertise in managing commonholds, explains the implications for developers</b></b><br><b>Commonhold is a familiar system that has been in use across the world for more than 30 years as a result of economic growth and the demand for interdependent residential buildings. The impending introduction of commonhold in England and Wales is likely to be seen by property owners as the answer to problems with leasehold issues and as such, will be viewed as a marketing advantage for developers.</b><br><b>But commonhold in its current form contains some pitfalls and issues which could significantly limit the control available to a developer and affect the practicalities of introduction. Developers will not only require specialist legal advice in terms of the structuring of commonhold but would also benefit from discussions with management companies such as our own. </b><br><b>Peverel OM, with property lawyer Winckworth Sherwood, recently hosted a commonhold conference from which emerged some frequently asked questions from developers.</b><br><b><b>What is commonhold?</b></b><br> A new form of tenure which will enable flats to be owned on a freehold basis instead of leasehold which the government views as unsatisfactory. Commonhold will also deal with …