15 Relevant and exempted disposals
Housing Act 1996 (1996 c 52) | Legislation

15  Relevant and exempted disposals

(1)     In sections 11 to 14 the expression “relevant disposal which is not an exempted disposal” shall be construed as follows.

(2)     A disposal, whether of the whole or part of the house, is a relevant disposal if it is—

(a)     a conveyance of the freehold or an assignment of the lease, or

(b)     the grant of a lease or sub-lease (other than a mortgage term) for a term of more than 21 years otherwise than at a rack-rent.

(3)     For the purposes of subsection (2)(b) it shall be assumed—

(a)     that any option to renew or extend a lease or sub-lease, whether or not forming part of a series of options, is exercised, and

(b)     that any option to terminate a lease or sub-lease

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