72 years left + 90 year extension

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    72 years left + 90 year extension

    Hi,

    I got a property with 72 years lease left. I asked for a quote on 90 years extension. As I understand that would make the total lease 162 years. Thereefore the lease would expire on 2012 + 162 = 2174

    I asked the year the lease would expire to the freehold. He replied:

    "the 90 year extension will be added to the remaining term of the lease at completion."

    So at completion of the deal, the new lease will be 162 years right?

    Regards,
    Luke

    #2
    Your understanding is correct although you will see that the paperwork will state that the revised lease is for a term of 189 years (initial 99 + 90 extension) from the start date of the original lease. But yes, you will have 162 years left to run assuming you extend in 2012.

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      #3
      And make sure the offered 162 years lease comes with peppercorn ground rent.

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