Lease Extension Addendum With Land Registry
Description
How to fill out District Of Columbia Residential Or Rental Lease Extension Agreement?
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FAQ
Extending the leaseYou can ask the landlord to extend your lease at any time. You might be able to extend your lease by: 90 years on a flat if you qualify. 50 years on a house if you qualify.
How to extend a leaseA property with a lease shorter than 80 years can negatively affect the value of your property.To start the lease extension process, you need to serve the leaseholder's notice to the landlord.It could be possible to negotiate the extension with the landlord directly to save time and money.More items...
Statutory lease extension requires the leaseholder to serve the landlord with a formal notice under the Leasehold Reform Housing and Urban Development Act 1993 which then enables the landlord to grant an extension to the lease term of a further 90 years.
In total the formal lease extension process can take anywhere from 2 to 12 months to complete the lease extension and then 3 to 12 months before the new lease is registered at the Land Registry. This is why many leaseholders link the lease extension into a sale and pass on the legal rights to extend to the new buyer.
1 Use of deeds of variation. It is clear in law that the term of a lease cannot simply be extended by deed. Instead, where a deed attempts either to: vary the length of a registered lease by increasing the term.
