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Landlord (freeholder) confirms the leaseholder has the legal right to extend their lease through the statutory process. Landlord serves a section 45 notice on the leaseholder. (if not agreed) Negotiations on the premium and potentially Tribunal if parties can't agree. Landlord drafts new lease and leaseholder completes.
What is a section 42 notice?
A section 42 notice is a document served by a tenant of a long (21+ years) lease on the landlord setting out the proposed terms of a new lease. Provided the tenant meets the elibibility criteria, they have a legal right to renew their lease (extend the number of years remaining).
What is a counter notice?
Related Definitions Counternotice means a written objection to a claim or payment setting forth the basis for disputing such claim or payment.
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