The Leasehold Reform, Housing and Urban Development Act 1993 effectively gives qualifying tenants the right to extend their leases by 90 years on payment of a premium. The Act was substantially amended by the Commonhold and Leasehold Reform Act 2002 and has been further amended by the Leasehold Reform (Amendment) Act 2014.
The lack of prescribed forms, the timetable imposed by the Act and recent changes to the statute and wrought by case law do not make the exercise of such rights as painless as one might hope.
As a result of watching this video, delegates will:
- Understand the statutory timetable – and the penalties for breach – imposed on both tenants and landlords under the Leasehold Reform, Housing & Urban Development Act 1993
- Be aware of the problems caused by the lack of prescribed forms and how to avoid them
- Understand when, and to what extent, new lease terms maybe imposed
- Realise the need for the appointment of a valuation surveyor and have a general understanding of the current ‘topical’ valuation issue
Sarah Thompson-Copsey is a former property litigation partner at the firm now known as Dentons, where she acted for and advised many blue chip retail clients, developers and institutions. She is now a freelance legal trainer, lecturing and writing regularly on commercial property topics, with an emphasis on avoiding & resolving disputes. Sarah also works an independent auditor of legal practices.
Sarah is co-author of Tenants’ Pre-emption Rights: A landlord’s guide to the Landlord and Tenant Act 1987 (Jordans) and Mixed Use and Residential Tenants’ Rights: The Landlord and Tenant Act 1987 and Leasehold Enfranchisement, (Elsevier 2009). She is also on the consultation board of Practical Law Company and a site editor for the Property Law website at www.propertylawuk.net.