Part 5Exemption from conversion and continuing leases
Types of exempt lease
64Exemption of qualifying lease by registration of agreement or order
1
A lease is an exempt lease if—
a
it is a qualifying lease,
b
it is not a lease in relation to which cumulo rent is payable, and
c
the landlord, not later than 2 months before the appointed day, registers against the title of the tenant—
i
an agreement entered into with the tenant, or
ii
an order made by the Lands Tribunal under section 69.
2
The agreement must—
a
be in the prescribed form,
b
be signed by or on behalf of the landlord and the tenant,
c
state either—
i
that the annual rent payable under the lease immediately before the appointed day will be over £100, or
ii
that the annual rent paid under the lease was over £100 at any point during the relevant period.
3
The relevant period is the period of 5 years ending on the day the Bill for this Act received Royal Assent.