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How to expand title lease

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hi im tia from the sustainable economies law center and im tabias from the lawyers committee for civil rights of the san francisco bay area were both lawyers who want to keep local businesses rooted in our community so we made this series of videos to demystify commercial leases this video is about lease terms and options to extend first define the lease term decide when the lease begins this is your commencement date then decide when the lease ends this is your expiration date or maybe you and the landlord can decide that there is no expiration date and that all you have is a month to month tenancy this means that either party may terminate the lease with a certain amount of prior notice just make sure to establish how to terminate the lease can the tenant renew the lease yes just make sure to add an extension option to your agreement for example here the tenant has three options to extend the lease for a term of two years each if your landlord agrees to let you renew the lease ma

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Do I need a solicitor to extend my lease?

Do I need a solicitor to extend my lease? Yes, you do. Even if you take the informal route and agree on the lease extension terms directly with the freeholder it is important to have a solicitor consider the lease to make sure no new or unreasonable terms are being added to the lease, etc.

How many years can you extend a lease?

You usually only have the right to extend your lease by 50 years, rather than 90 years with flats. The freeholder could grant more than 50 years if they want, but its up to them. The law is even trickier here than with flats, so seek advice from a solicitor with experience in the area.

Can I buy a 999 year lease?

How long can a lease be? Newly-created leases can be anything from 99 or 125 years to 999 years. A 999 year lease is effectively as good as freehold, and there can even be some advantages to owning some properties this way, rather than under freehold (see below).

How do you extend the term of a lease?

Process for lease extension Check whether youre eligible to extend the lease on your property. Inform the freeholder that you intend to apply for a lease extension via the statutory route. Appoint a solicitor for your case. Get a full valuation for your leasehold property.

Is leasehold worth extending?

As a general rule of thumb, if the lease is less than 90 years you should almost certainly try to extend it because: Properties with shorter leases are less valuable than ones with long leases (this is particularly true if leases are below 80 years)

What happens at the end of a 999 year lease?

Leases of between 99 and 999 years are commonly granted and generally the value of a property will reduce as the lease gets closer to the end. Lenders are unlikely to offer a mortgage on a property with anything less than 25 years left to run.

Can you always extend a lease?

If you prefer, it may be possible to negotiate a lease extension with your landlord on whatever terms you can agree. If you decide to try to negotiate a lease extension, there are no rules and your landlord could refuse to extend your lease, or set whatever terms they like.

Can you extend a 999 year lease?

The 999 year lease Currently, leaseholders extending their lease formally through the statutory process can only extend the existing term by 90 years.

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