This section applies where a person ("the developer") carries out a development in England that results in the creation of one or more dwellings ("new build homes").
The developer must, at the time of or before granting or disposing of a relevant interest in a new build home—
The Secretary of State may by regulations impose requirements about new build home warranties, including in particular requirements as to—
The regulations must provide that the period of cover under the policy of insurance must be at least 15 years beginning with the day on which the relevant interest is granted or disposed of.
In this section—
"carries out a development": the reference to a person carrying out a development is to undertaking or commissioning—with a view to granting, or disposing of, relevant interests in one or more dwellings created as a result of the construction, conversion or carrying out of works;the construction of a building, orthe conversion of, or carrying out of any other works to, a building,
"common parts", in relation to a new build home, means any part of a building, where—that part is provided for the use, benefit and enjoyment of the residents of the new build home and the residents of other dwellings (whether alone or with other persons), andthe right to use that part is conferred in connection with the grant or disposal of the relevant interest in the new build home;
"defect": any reference to a defect includes, in relation to land, contamination;
"prescribed" means prescribed by regulations made by the Secretary of State;
"purchaser" means the person to whom the relevant interest is granted or disposed of;
"relevant interest" means a legal estate which is—an estate in fee simple absolute in possession, ora term of years absolute granted for a term of more than 21 years from the date of the grant.