Lexsure Knowledge Hub
Makes available the latest paragraphs for you to consider including in your Report on Title.
text for Report on Title:
ROT: Original Lease Term Less than 125 Years
Change Date : 02/01/2022 | Word Count: 171 | Deployment Measure : 7/10
Rationale:
Only applicable to leasehold cases. New concept of ‘original’ (different from remaining or unexpired) introduced by some lenders into their P2 Lender Handbook requirements.
Notwithstanding the fact that the remaining lease terms for this property is generally acceptable to almost all lenders, a limited number of lenders recently have imposed an additional requirement that the original lease term had
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