Enjoying The Benefits

Extending A Lease

When You Want To

Continue Enjoying

The Benefits

A lease is term wherein you own a property or a land for a fixed amount of time. No matter how many properties you own everybody has to abide by the same law. You cannot lease a rented property.

 

Extending a lease is done when both the parties buying and selling agree to all the terms . You can sell the property when it is on lease. The problem comes when the tenure is about to get over. The price of the property is the major. Usually the tenure of the lease is about 50 to 100 years.

 

At the time of expiry the value of the property goes down. The extension of a lease calculates the price of purchasing and the existing price. Usually it is difficult to lease out a mortgage and residential property for a short term. But in case if you have a leased property and it is going to expire soon, then you need to get right of Extending a lease. Then you need to know the right market value of the property.

 

The actual price of the property is decided by the landlord keep his interest in mind. So you need an expert who can get you a property for the ground value. There are two conditions that you need to fulfill before giving out the property on lease. These conditions are very simple. You need to be a lease holder of the property for at least 21 years and you should be lease holder of the property for minimum two years before you make the claim.