Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
The leaseholder may have a legal right under the Leasehold Reform Act 1967 to extend the lease of their house if they meet certain qualifying criteria. If the leaseholder qualifies under the 1967 Act and follows the correct procedure they can force you to grant them a 50 year lease extension at a modern ground rent.
Alternatively, you can negotiate to extend the lease by mutual agreement outside the provisions of the 1967 Act.
Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area. See the list of Leasehold Practitioners.
More information you might find useful:
- Houses – Qualification and Valuation
- More Frequently Asked Questions on Houses – Enfranchisement and Lease Extension
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers