This Section makes amendments to the LRHUDA 1993 to provide that the price payable to acquire the freehold of a block of flats, or a lease extension of a flat, must be calculated in accordance with Section 37. The amendments made by this Section also ensure that, when a shared ownership leaseholder claims a lease extension, only the rent payable in respect of the tenant’s share in the flat is to become a peppercorn on the grant of the extended lease (so any rent paid by the shared ownership leaseholder in respect of the landlord’s share is unaffected by the lease extension claim).
Part 2 - Leasehold enfranchisement and extension Section 36: LRHUDA 1993: determining price payable for collective enfranchisement or new lease