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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10176
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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can the landlord withdraw his interest to sell me lease extention

Customer Question

can the landlord withdraw his interest to sell me lease extention fpr 90 years. he offer me a lease extention for the price of £15000 and I offer him 7,500. he immediateley answer me back saying he has withdraw his offer.
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.
Hello and thanks for using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
Have you owned your property for 2 years or more?
I look forward to hearing from you.
Kind Regards
AL
Customer: replied 2 years ago.

yes for 8yrs

Expert:  Aston Lawyer replied 2 years ago.
Hi Peter,
Thanks for your reply.
Well, legally, as you have owned your property for over 2 years, you are entitled to a Lease extension of 90 years at a peppercorn rent.
A lot of the time, Landlords and Tenants would agree a figure between themselves on an informal basis, but if agreement can not be reached, to exercise their legal right to a Lease extension, the Tenant needs to serve a formal Notice on the Landlord requesting the Lease extension.
There is then a set format/procedure which needs to be followed by the Landlord and Tenant in negotiating the price and completing the Lease extension. Full details as follows-
The requirements of the Tenant's Notice are set out in S42(3) of the Leasehold Reform Housing and Urban Development Act 1993. It must contain the following:
•the full name of the leaseholder and the address of the flat;
•sufficient information about the flat to identify the property to which the application relates;
•details of the lease including its date of commencement and its terms;
•the premium proposed for the new lease and or other amounts payable where there are intermediate leases involved; *
•the terms that the leaseholder proposes for the new lease; (if different from the present lease)
•the name and address of his representative if one has been appointed; and
•a date by which the landlord must give his Counter-Notice, which must be not less than two months from the date on which the Tenant's Notice is served
If your Landlord is therefore not willing to proceed on the agreed figure, you are best to speak to a Surveyor and to get the Notice served on him.
I hope this assists you and answers your question.
Kind Regards
AL
Expert:  Aston Lawyer replied 2 years ago.
Hi Peter,
Can I assist you any further?
Kind Regards
AL

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