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What counts as occupation for the 'resident landlord' exemption under the LTA 1987?
Practical Law Resource ID 2-515-4048 (Approx. 3 pages)
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What counts as occupation for the 'resident landlord' exemption under the LTA 1987?
Anonymous (Private practice)
Q:
We were asked to deal with the purchase of the freehold of a block of flats for a client. The other tenant did not want to buy the freehold at that time. However, the other tenant now wants to set up with our client a management company (and be a 50% shareholder of the same) on payment of 50% consideration of what our client paid for the freehold. Our client is agreeable to this.
We are now considering the LTA 1987 and have reviewed your note on the tenant's right of first refusal. Do you believe the s5 procedure applies in this instance? We have been looking at the "resident landlord" exception, but would that only apply for the 12 months our client owned the freehold (note he has owned it for less than 6 months), or the 12 months our client has used it as his primary residence?
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