Lease Extension Qualification
Overview Pros and Cons Qualification Valuation Procedure Alternatives Services & Costs
Find out whether a leaseholder is entitled to a Statutory Lease Extension by using the qualification test provided.
Please note that this is not an exhaustive test. Always rely upon a professional eligibility assessment:
(1) Was the original term of the lease for over 21 years?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension.
(2) Is the property 'shared ownership' where the leaseholder owns less than 100%?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension. To qualify, a leaseholder of a shared-ownership property must 'staircase' their ownership to 100%.
(3) Has the leaseholder owned the property for at least 2 years?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension. A seller of a leasehold property who has lived in the property for more than 2 years can, however, assign their right to a statutory lease extension to an incoming purchaser. Contact Pro-Leagle to learn more.
(4) Is the leaseholder currently trying to enfranchise (i.e. purchase the freehold)?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension.
(5) Is the property either within a cathedral precinct, or a National Trust/Crown Property?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension. It is possible, however, that the freeholders of such properties may be prepared to comply with the principles of the relevant legislation. This is particularly the case for Crown properties. Contact Pro-Leagle to learn more.
(6) Is the lease over the property a commercial (business) lease?
Qualifies for statutory lease extension.
Does not qualify for statutory lease extension. Leaseholders can be commercial entities (such as limited companies) and retain the statutory right to a lease extension. If, however, the relevant lease is a commercial lease, there is no right to an extension.
Congratulations, you may qualify for Leasehold Extension
This is not an exhaustive test. You should now obtain a professional assessment as to whether a leaseholder, lease or the property itself, qualifies for statutory leasehold extension.
Unfortunately you may NOT qualify for Leasehold Extension
This is not an exhaustive test. You should now obtain a professional assessment as to whether a leaseholder, lease or the property itself, qualifies for statutory leasehold extension.
Oops! You need Javascript turned on for this page to work.