56 Obligation to grant new lease
Leasehold Reform, Housing and Urban Development Act 1993 (1993 c 28) | Legislation

Grant of new lease

56  Obligation to grant new lease

(1)ÌýÌýÌýÌý Where a qualifying tenant of a flat has under this Chapter a right to acquire a new lease of the flat and gives notice of his claim in accordance with section 42, then except as provided by this Chapter the landlord shall be bound to grant to the tenant, and the tenant shall be bound to accept—

(a)ÌýÌýÌýÌý in substitution for the existing lease, and

(b)ÌýÌýÌýÌý on payment of the premium payable under Schedule 13 in respect of the grant,

[(b)ÌýÌýÌýÌý on payment of the price payable in respect of the grant as determined in accordance with section 37 of the Leasehold and Freehold Reform Act 2024,]

a new lease of the flat at a peppercorn rent for a term expiring 90 years [990 years] after the term date of the existing lease.

[(1A)ÌýÌýÌýÌý But if the existing lease is a shared ownership lease, the rent payable under the new lease of the flat is as follows

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