Section 42 Notice

Under the Leasehold Reform, Housing, and Urban Development Act of 1993, leaseholders have a statutory right to extend their lease.

A Section 42 Notice is a formal request from a leaseholder (tenant) to the freeholder (landlord) to extend their lease on a property.

Following the statutory route by serving a Section 42 Notice on the freeholder means that:

  • a prescribed lease extension process will be followed.
  • an additional 90 years will be added to the lease.
  • the ground rent will be reduced to zero (peppercorn).
Chris Salmon, Director

Author:
Chris Salmon, Director