Part I Tenants’ Rights of First Refusal
F2 Rights of first refusal
5AF1 Offer notice: requirements in case of contract to be completed by conveyance, &c.
1
The following requirements must be met in relation to an offer notice where the disposal consists of entering into a contract to create or transfer an estate or interest in land.
2
The notice must contain particulars of the principal terms of the disposal proposed by the landlord, including in particular—
a
the property, and the estate or interest in that property, to which the contract relates,
b
the principal terms of the contract (including the deposit and consideration required).
3
The notice must state that the notice constitutes an offer by the landlord to enter into a contract on those terms which may be accepted by the requisite majority of qualifying tenants of the constituent flats.
4
The notice must specify a period within which that offer may be so accepted, being a period of not less than two months which is to begin with the date of service of the notice.
5
The notice must specify a further period of not less than two months within which a person or persons may be nominated by the tenants under section 6.
6
This section does not apply to the grant of an option or right of pre-emption (see section 5C).
Ss. 5, 5A-5E, 6, 7, 8, 8A-8E, 9A, 9B, 10 and crossheading substituted for ss. 5-10 (1.10.1996) by 1996 c. 52, s. 92(1), Sch. 6 Pt. I; S.I. 1996/2212, art. 2(2) (with Sch.)