What is a s42 notice?

A Section 42 Notice is a formal request from a leaseholder to the freeholder or landlord (or both) and any other appropriate party to extend their lease on a property. This provides a leaseholder with an extension of 90 years on top of the remaining lease term and a ground rent reduced to zero.

How do I serve a s42 notice?

serve the notice on the freeholder at their home address or last known address – the solicitor should serve the tenant notice using special delivery or, at your cost, courier so that the freeholder signs and acknowledges receipt of the notice. (if required) reply to the freeholder with evidence of your eligibility.

Can you assign a section 42 notice?

Assigning benefit of the Section 42 notice To overcome the difficulties of lease extension as a new owner, you can contractually procure the seller to serve the Section 42 notice on the landlord and assign the benefit of that notice within a separate agreement to you, the buyer.

Can a section 42 notice be signed by solicitor?

Until the recent Leasehold Reform (Amendment) Act 2014, notices had to be personally signed by the tenant. Now it is possible for your solicitor to sign on your behalf, provided you have expressly given them the authority to do so. It is important for the notice to be drafted in accordance with the Act.

How long does a landlord have to respond to a S42 notice?

Landlord must respond within 28 days. Leaseholder serves S42 Tenant’s Notice. The “valuation date” will be fixed as the date of service of the S42 Tenant’s Notice. Landlord may request additional information, but he must do so within 21 days of receipt of the Tenant’s Notice.

Do I have to wait 2 years to extend lease?

Once you have owned the flat for two years, you have the right to a lease extension.

What is a section 45 notice?

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 41 notice?

6.1 When a decision is made to store possessions the outgoing tenant will be served with a one month notice period in accordance with Section 41 of the Local Government (Miscellaneous Provisions) Act 1982. 6.2 An inventory of goods stored must be included in the notice.

Who can serve a section 42 notice?

Under the Leasehold Reform, Housing and Urban Development Act (1993) a tenant must have held the property continuously for a minimum of two years in order to serve a Section 42 Notice. The lease must also be registered at HM Land Registry as an estate contract before the Section 42 can be issued to the Landlord.

What is a Section 42 Safeguarding Enquiry?

What is a Safeguarding Enquiry? Section 42 of the Care Act 2014 requires that each local authority must make enquiries (or cause others to do so) if it believes an adult is experiencing, or is at risk of, abuse or neglect.

Is it expensive to extend a lease?

There are two reasons for this: Firstly, lease extension gets more expensive each year, but costs rise more rapidly when there are less than 80 years left; and secondly, it becomes more difficult to mortgage or remortgage a property when there are less than 70 years to run on a lease.

Can you extend a lease without a solicitor?

Instead of following the statutory path of extending the lease, you may be able to negotiate the terms informally with your landlord. This could not only help save time, but also money. However, you’ll still need to engage a solicitor to draw up the contracts and you may want to take legal and valuation advice as well.

What is a section 42 tenant’s notice?

While the Section 42 Tenant’s Notice serves as the initiating document of the lease extension process, it is the Freeholder’s Counter Notice that determines the progress of the extension. Once served with a Section 42 Notice, the freeholder responds through the Counter Notice in either of the following ways;

When to respond to a section 42 notice from a freeholder?

Within two months of serving a Section 42 Notice, the freeholder or landlord will respond through a Counter Notice. A Counter Notice shows the freeholder’s acceptance or rejection of the lease extension. It is worth noting that not every tenant is legally permitted to serve a Section 42 Notice.

What is a tenant’s notice?

The Tenant’s Notice is a clear milestone in the lease extension process also because all matters of valuation and compensation etc. are calculated from the date it is served. In the article below we run through what the process is to serve the notice and answer frequently asked questions. Do you need a section 42 notice? Prefer to call to discuss?

Can a conveyancing solicitor serve a section 42 notice on a landlord?

A conveyancing solicitor experienced in lease extensions is fully aware that a Section 42 Notice served on a landlord/freeholder must be complete and with no inaccuracies.