Part 2 - Leasehold enfranchisement and extension Section 37: Enfranchisement or extension: new method for calculating price payable
Section 37 sets out the price that is payable when exercising any of the four enfranchisement rights, namely acquiring the freehold of a house; extending a lease of a house; acquiring the freehold of a block of flats; and extending a lease of a flat. The Section does not apply to prices calculated under the preserved Section 9(1) of the LRA 1967.
	The Section provides that the price comprises two elements:
the market value, which is to be calculated in accordance with Schedule 4; and
any other compensation, which is to be calculated in accordance with Schedule 5.