LRHUDA 1993 (lease extension): new lease of a flat complying with section 56

by Practical Law Property

A standard document for granting a new lease of a flat under the statutory procedure set out in the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993). The new lease is often referred to as a lease extension. However, technically, the new lease replaces the existing lease with a longer one, rather than "extending" the existing lease. This document is structured as a lease by reference, incorporating the provisions of the tenant's existing lease subject to specific variations. It provides for a new term for the remainder of the previous term plus 90 years, at a peppercorn rent in exchange for a premium. The lease includes the prescribed clauses necessary for registration at HM Land Registry and contains optional provisions for transactions involving a management company, outlining how its covenants are managed after the original lease term expires. It also integrates clauses required by the LRHUDA 1993, such as the landlord's redevelopment break right and restrictions on sub-tenants' rights. It addresses key practicalities, including where a superior landlord grants the lease, making it a valuable tool for parties navigating the statutory lease extension process in England and Wales.