A lease extension is the process of increasing the duration of a lease agreement between the leaseholder and the freeholder beyond its original expiration date.
It’s important to note that leasehold ownership differs from freehold ownership. With freehold ownership, an individual owns the property outright and indefinitely, whereas leasehold ownership grants the right to use and occupy the property for a limited period, as stipulated in the lease agreement.
Over time a leasehold term shortens, those with less than 80 years remaining will require extending. This is known as a lease extension.
Our team of property lawyers specialises in lease extensions and are based in Colchester. Your lease extension will be undertaken by a single lawyer, who you can call directly. In addition we…