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I'd have more respect for this if the proposal included a simple and foolproof programme - e.g. :-

Unless the freehold belongs to a company of which the resident is a member by right,
A. For residential houses, on the appointed day, all leaseholds with more than (say) 25 years to run become freehold automatically with a termination price of 12 years purchase of the original groundrent. The lessor's claim should be personal against the lessee on the appointed day, not chargeable on the estate and with a 6 year limitation period.
B. For flats likewise except that mutual cross-easements of support, maintenance of the roof etc are created automatically in respect of each flat with each other. That is the only bit that would require any comprehensive legislative drafting.

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