LRA 1967: agreement to serve and assign the benefit of a claim for the freehold or extended lease | Practical Law

LRA 1967: agreement to serve and assign the benefit of a claim for the freehold or extended lease | Practical Law

This standard document contains wording to be included in a contract for the sale of a leasehold house, to provide for the assignment of the benefit of a claim for the freehold or an extended lease under the Leasehold Reform Act 1967 (LRA 1967), on completion of the sale. The wording assumes that the notice of claim will be served between exchange and completion.

LRA 1967: agreement to serve and assign the benefit of a claim for the freehold or extended lease

Practical Law UK Standard Document w-023-5814 (Approx. 22 pages)

LRA 1967: agreement to serve and assign the benefit of a claim for the freehold or extended lease

Maintained, England, Wales
This standard document contains wording to be included in a contract for the sale of a leasehold house, to provide for the assignment of the benefit of a claim for the freehold or an extended lease under the Leasehold Reform Act 1967 (LRA 1967), on completion of the sale. The wording assumes that the notice of claim will be served between exchange and completion.
For alternative contract wording, for use where a seller of a leasehold house agrees to assign the benefit of a notice of claim served before exchange, see Standard document, LRA 1967: Agreement to assign the benefit of a claim for the freehold (or extended lease) served before exchange.