What happens when your lease runs out?

1. What happens when your lease runs out? If the lease of your property does run out, then the property will revert ‘back’ to your landlord. This will, therefore, mean ownership of the land and building will go back to the freeholder. For example, if you had another sixty years left on the lease of your property in 2005. By 2065, even though you may have paid your mortgage outright, the property’s ownership would revert to your landlord. What happens when a ground lease expires? The ground lease agreement states that all structures on and capital improvements of the land, including anything added by the tenant, is forfeit upon the expiration of the ground lease. Is it easy to extend a lease? The process involved in extending your lease is quite complex and can become quite lengthy (if the landlord and leaseholder cannot agree terms). However, with proper professional guidance this complex process can become quite straightforward. When should I extend my lease? As a general rule of thumb, if the lease is less than 90 years you should almost certainly try to extend it because Properties with shorter leases are less valuable than ones with long leases (this is particularly true if leases are below 80 years) To renew your lease please visit us on ​https://www.leaseholdvaluations.com/ or contact us on ​https://www.leaseholdvaluations.com/contact-us/ ​or call on 01753 542984 ​or Email us on​​enquiries@homereports.ltd.uk