lease extension

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    lease extension

    Years ago before my time, half the leaseholders set up a limited company and bought the freehold. The company then issued new leases to the freeholder/leaseholders for 999years, it did not issue new leases to the non freeholder/leaseholders. I am one of the non freeholders and my lease predates the new 999 year leases. I have a clause in my lease that says it must be the same as any leases issued subsequent to my lease so my question is can i insist on a new lease of 999 years so it is the same as per the clause, without going via LVT?

    #2
    No. The clause seeks to make sure all leases are the same in respects of covenants and regulations.

    A moments thought would show how unjust your proposal would be.

    Comment


      #3
      There are however different covenants and regulations in my lease versus theirs so I wondered where the line is drawn. Presumably I can insist on a new lease to be the same covenants and regs as theirs? How does that work re length of lease - for example is it same start date as original lease?

      Comment


        #4
        Those terms might be to your advantage.

        At best you can require the FH to vary or surrender and grant a lease to unify those covenants, but that will not stretch to the term or rent.

        That you will have to pay for.

        "Nice try but no cigar", sorry.
        Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

        Comment


          #5
          The new leases are better re parking/vehicular access, which is one of our main concerns. Who pays for this seeing as they should have unifyed these clauses when they gave themselves new leases?

          Comment


            #6
            Usually leases for a new-build block of flats will have a clause to say all leases must be the same.

            However when the years remaining on the leases falls below 80 years, the leaseholders have to seek a statutory 90 years extension or else they ( at least 50% + ) can collectively buy the freehold title and give themselves ( participating flats only ) a 999 years lease extension at NIL ground rent and make some minor changes .

            The non-participating flats don't have any right to expect a 999 year extension due to not participating in buying the freehold.

            So don't expect the leases to stay the same forever. Has your flat lease been extended by 90 years ???

            Comment


              #7
              We dont actually need a lease extension as we have 100 years to run, but we would like same deal on eg parking as other leases issued after ours, have. This then made me think whether having clause about same conditions meant a longer lease without paying which Leaseholdanswers has pointed out is a non starter, but we'd still like the parking and some other covenants in ours to be changed so it is the same as other leases.

              Comment


                #8
                Originally posted by katy12 View Post
                We dont actually need a lease extension as we have 100 years to run, but we would like same deal on eg parking as other leases issued after ours, have. This then made me think whether having clause about same conditions meant a longer lease without paying which Leaseholdanswers has pointed out is a non starter, but we'd still like the parking and some other covenants in ours to be changed so it is the same as other leases.
                Ah no this may not help you either. It depends on what the original rights were, if they were individual to each lease, then that is another covenant which is not caught up in these clauses.

                In general terms this relates to covenants that manages the relationship and obligations between parties and not to individually negotiated deals which have no effect, in that context, on another flat.

                That you have poorer parking rights does not affect you in a way that would be a basis for amendment under the terms of your existing lease.
                Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

                Comment

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