Question 1

Lease Variation

Accepted Answer

Q: Our Management Company is the freeholder of a block of 92 flats with leases of the residue of 999 years. We are at a very early stage in wishing to alter some aspects of our lease and need to know what proportion of our 92 leaseholders have to be in favour of amending the lease. FPRA Hon Consultant Yashmin Mistry replies: In terms lease variations, if the variations are being done informally you will need 100 per cent of the parties to agree to the variation (including any lenders and third parties to the lease). If, however, 100 per cent agreement cannot be reached, there may be scope to make an application to the First Tier Tribunal under Section 37 of the Landlord and Tenant Act 1987. Such an application may be made if it is supported by a minimum number of parties to the various leases involved. Where there are nine or more dwellings, at least 75 per cent of the parties must consent to the proposed variations with no more than 10 per cent opposing the application. [Submitted April 2016]

Question 2

Lease Variation

Accepted Answer

Q: Our Management Company is the freeholder of a block of 92 flats with leases of the residue of 999 years. We are at a very early stage in wishing to alter some aspects of our lease and need to know what proportion of our 92 leaseholders have to be in favour of amending the lease. FPRA Hon Consultant Yashmin Mistry replies: In terms lease variations, if the variations are being done informally you will need 100 per cent of the parties to agree to the variation (including any lenders and third parties to the lease). If, however, 100 per cent agreement cannot be reached, there may be scope to make an application to the First Tier Tribunal under Section 37 of the Landlord and Tenant Act 1987. Such an application may be made if it is supported by a minimum number of parties to the various leases involved. Where there are nine or more dwellings, at least 75 per cent of the parties must consent to the proposed variations with no more than 10 per cent opposing the application. [Submitted April 2016]

Lease Variation

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