Property Practice
The solicitors representing the landlord and tenant of an office space have been in talks for several weeks to finalize the terms of a new lease. This comes after the tenant served a valid section 26 notice under the Landlord and Tenant Act 1954 (Part II). Despite their efforts, it has become clear that the parties are unable to come to an agreement.
What steps will be taken to resolve the impasse between the parties?
The solicitors representing the landlord and tenant of an office space have been in talks for several weeks to finalize the terms of a new lease. This comes after the tenant served a valid section 26 notice under the Landlord and Tenant Act 1954 (Part II). Despite their efforts, it has become clear that the parties are unable to come to an agreement.
What steps will be taken to resolve the impasse between the parties?
The court will set the terms of the new lease.
(C)If the landlord and tenant are unable to reach an agreement on the terms of a new lease after a section 26 notice has been served, the court has the authority to determine the terms of the new lease. However, this is a rare occurrence in practice.
Therefore, the other answers are incorrect.
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