Question

Investing in a Property (England) | Succession Rights and Rights of Survivorship (England)

Selling a property

28 Dec 2016 | 1 comment

Hello,
A few years ago (when renting a property and being faced with a notice to terminate the tenancy agreement yet again before the 3 year mark), I was told by the estate agency that it’s because of a law which dictates that if a landlord decides to sell the property the tenants must be offered the opportunity to buy the property first, and if the tenancy had been in place for over 3 years, all the rent paid up to that time must be deducted from the price of the property.

Is that true?

Answer

1 Comment

  1. guildy
    guildy on 28/12/2016 at 5:38 pm

    No, that rule does not apply to a normal assured shorthold tenancy. The leases that that rule applies to are where you purchase the actual lease in a block commonly on a 99 year lease. The rule applies to those leases which are for 21 years or more.

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