Adding value to you home: a guide to extending your lease or buying your freehold
In 1967 the Leasehold Reform Act became the first piece of legislation enabling tenants to force their landlords to sell their freehold interest. This guide explains the criteria which must be satisfied before a claim can be submitted, describes the procedure involved, and shows the basis on which the premium payable to the landlord is calculated.
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500 elsewhere amounts annual rent payable apportionment of 50 assessed BASIS The valuation caretaker's flat claimant collective enfranchisement Commonhold and Leasehold date of claim David Radford Development Act 1993 Diminution in value entirety value excess of 21 existing lease flat held freehold interest gross floor area Ground rent Ground ground rent payable held by qualifying house and premises initial Notice intermediate landlords landlord is entitled landlord's existing interest landlord's interest landlords and tenants Lands Tribunal decision lease extension leasehold interest leasehold owner Leasehold Reform Act Leasehold Valuation Tribunal ln practice long lease mobile phone contract non-participating flats Notice of Claim NUMBER OF FLATS order to qualify participating flats participating tenants Premium payable purchase the freehold rateable value limits Reform Act 2002 rent Ground rent Section 15 rent September 2006 sign the Notice st April tenant is assumed valuation date VALUATlON BASlS value of ground valuers virtual freehold