Do I obtain right to apply for lease extension before or after exchanging contracts?

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    Do I obtain right to apply for lease extension before or after exchanging contracts?

    When inheriting the right to apply for a lease extension without waiting 2 years after buying a flat, must I obtain that right before or after exchange of contracts?

    #2
    It must be the seller who has been a leaseholder for over 2 years who can serve a legal notice on the freeholder to seek statutory 90 years lease extension. You, as buyer, have no rights under the lease until after the sale has completed and Land Registry records show the lease transferred to your name.

    To avoid the 2 years waiting period , you should therefore negotiate for the seller's solicitor to serve the legal notice after exchange of contract and before the sale completion date.

    Comment


      #3
      Make it a condition of completion of the sale.

      Comment


        #4
        The current owner will only serve the notice after I exchange. Will the notice be valid after exchange?

        Comment


          #5
          As long as it is condition of the contract that he will do so, as is the deed of assignment of the right to you.

          your solicitor should be telling this to you.
          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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