Lease Extensions

Flat owners seeking a lease extension should instruct a surveyor to produce a valuation of the premium for the lease extension. Your solicitor will then serve a formal Section 42 notice of claim on the freeholder[s], which will start the legal process to acquire a lease extension. Freeholders served with this notice must respond with a formal counter notice within two months of the date of the original notice.

Once a Section 42 notice is served, the flat owner is liable for the freeholder’s reasonable costs from the date he received the notice.

Tibbatts & Co regularly conducts negotiations and assists with valuations of premium for both flat owners and freeholders in regard to lease extension, dispute resolution, and representation at a Leasehold Valuation Tribunal should this be necessary.