Section 5 Notice Requirement

Summary

When buying a flat and the freehold of a building with another leased flat, you may need to serve a Section 5 Notice under the Landlord and Tenant Act 1987. This notice gives the leaseholder the right of first refusal to purchase the freehold. The notice must detail the offer terms, and leaseholders typically have two months to respond. Failing to serve this notice can lead to legal issues and potential challenges to the sale.

Full Conversation

please can you give more detail?
Sure! Here are some important points about Section * of the Landlord and Tenant Act *:
- Right of First Refusal: The current leaseholder must be given the opportunity to purchase the freehold before it's offered to a third party.
- Notice Requirement: A Section * Notice must be served to the leaseholder(s) detailing the terms of the offer.
- Response Time: Leaseholders generally have two months to respond to the notice.
- Failure to Serve Notice: Not serving a Section * Notice can lead to legal consequences and the potential for the leaseholder to challenge the sale.
Do you have any specific questions about serving notice or the process involved?