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Nov, 2014

Saturday

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  1. #1

    Default Can a Section 42 be assigned twice?

    Hi everyone

    Does anyone know whether a section 42 can be assigned twice? What I would like to do is outlined below:
    1)The leaseholder has passed away and her executor has served a Section 42.
    2) I buy the flat and on completion, I am assigned the benefit of this Section 42.
    3) I renovate the property.
    4) I sell the property assigning the benefit of the Section 42 to the new buyer.

    In other words I wouldn't be extending the lease myself but passing the benefit of the section 42 on.

    Thanks

    Steve

  2. #2
    Join Date
    Jun 2007
    Posts
    285

    Default

    I echo those comments. I see no reason why it cannot be assigned twice. Although you would need to keep the process going I.e. agreeing terns etc. there are strict time limits on the next steps to take.

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