LRHUDA 1993

Question 1

2 rights

Answer 1

Collectively acquire freehold

To purchase a new 90 year lease

Question 2

QT (2)

Answer 2

Long leaseholder

can be company

Question 3

Excluded QT (3)

Answer 3

business tenancy
Immediate LL a charitable housing trust
Unlawful sub lease

Question 4

A flat

Answer 4

horizontal division

Question 5

Premises (5)

Answer 5

Self contained building
Min 2 flats held by QTs
2/3 of total flats need to be by QT
Part occupied for non-resi, must not exceed 25% internal floor area
Excluded if resi LL and no more than 4 units

Question 6

Participating Ts (2)

Answer 6

Min 2/3 of QTs

Must occupy at least 1/2 flats in block

Question 7

Procedure (3)

Answer 7

PT chose nominee purchaser
Serve notice on LL
LL serve counter notice on NP admitting/denying rights to participate

Question 8

Interests included 4)

Answer 8

FH premises
Appurtenant FH property
Property which one QT entitled to use in common
Intermediate LH interest

Question 9

Interest retained by FH (5)

Answer 9

Underlying minerals and by way of lease back:
Flats let on secure tenancies
Flats let by HA on other tenancies
Flats of non QT
Flat occupied by resi LL

Question 10

What assumption are made by FTT when calculating price of FH 5

Answer 10

open market between willing LL & T
subject to leases
No rights to acquire FH/new lease
Increase in value disregarded - improvements
LL - 50% share of marriage value but not where term is 80 years+

Question 11

Right to new lease 2

Answer 11

if QT been T for last 2 years

LL can refuse if ct satsifed lease due to end in next 5 years and LL wants to demolish/reconstruct

Question 12

Terms of new lease 2

Answer 12

same but rent peppercorn

term = 90 years