poppet2 Posted December 17, 2018 Share Posted December 17, 2018 Once an offer to extend the lease on a flat has been agreed, is there a time limit by which the leaseholder has to pay the freeholder, or else the deal becomes null and void? Also, if this is the case, and negotiations begin again, could the freeholder demand a better offer? Link to comment Share on other sites More sharing options...
topflat29 Posted December 25, 2018 Share Posted December 25, 2018 ( Copied from the free guide at www.lease-advice.org ) As stated above, completion can take place 4 weeks after agreement on the price. However, the completion date itself is triggered by a notice, given by either party, specifying the first working day four weeks after giving the notice. If either party is failing to comply with its obligations arising from the tenant’s notice or statutory conditions, a two month “default” notice can be served by the aggrieved party. This notice should refer to condition 10 of the statutory conditions, specify the default and require the other party to make it good before the expiration of the notice. If the tenant fails to comply with the above notice the contract is discharged and the landlord can forfeit the deposit. If the landlord fails to comply, the contract is discharged, the tenant does not have to pay the landlord’s costs and his deposit is returned. In most cases the tenant will wish the contract to be completed so is unlikely to serve a default notice. They are more likely to seek to use other remedies such as seeking specific performance of the contract (ie obtaining a court order to force the landlord to complete. https://www.lease-advice.org/advice-guide/houses-qualification-valuation/ Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted December 30, 2018 Share Posted December 30, 2018 Post #2 is incomplete. There are several statutory time limits in the 1993 Act, applicable following service of a s.42 Notice. Not meeting one of them often leads to the Notice being deemed withdrawn. Link to comment Share on other sites More sharing options...
topflat29 Posted December 31, 2018 Share Posted December 31, 2018 The Housing Minister at that time had good intentions but during passage through Parliament , the draft legislation for 1993 Act was knocked out of shape by MPs and Lords backing the interests of developers and freeholders . Link to comment Share on other sites More sharing options...
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