Schedules
Schedule 4Determining and sharing the market value
Part 3Determining the market value
10Leases already extended under the old law in the LRA 1967
1
This paragraph applies only to—
a
the transfer of a freehold house under the LRA 1967, or
b
the grant of an extended lease of a house under the LRA 1967.
2
The standard valuation method is not compulsory for the property comprised in the current lease if that lease is a pre-commencement lease granted under section 14 of the LRA 1967.