Jurisdiction(s):
United Kingdom

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Key definition

Completion definition

What does Completion mean? In legal practice, Completion is the point at which a transaction is finally effected, sometimes called 'closing' in cross‑border deals: consideration is paid and title, assets or rights are transferred after all conditions precedent are satisfied or waived and the required completion documents are delivered. Not generally defined by legislation, it is a contractual expression used across conveyancing, corporate/M&A and finance, informed by common law. Key features include a completion date/time; completion mechanics (agenda or checklist); execution and delivery of transfers and ancillary documents; release of funds (often against undertakings); and, where relevant, escrow or virtual completion. Completion usually fixes when...

Statutory Lease Extensions of Flats under LRHUDA 1993: Eligibility, Valuation, Marriage Value, Section 42/45 Notices, FTT/County Court Procedure, Intermediate Landlords, Registration and Costs (England and Wales)

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Practice notes

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This Practice Note outlines the statutory entitlement (subject to statutory qualifying criteria) of a tenant holding a long lease of a flat to acquire a 90-year extension of that lease under the Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993). It includes guidance on valuation and the assessment of the premium; procedure, including service of a section 42 notice and a section 45 counter-notice; the position of intermediate landlords; registration; assignment; initial deposit; consequences of non-compliance; terms of the new lease; First-tier Tribunal (FTT) (or Leasehold Valuation Tribunal (LVT) in Wales) and County Court procedure; payment of the premium; completion; and withdrawal of claim.

For a table setting out common statutory time limits in the lease extension procedure, see Practice Note: Quick guide to time limits for lease extensions under the Leasehold Reform, Housing and Urban Development Act 1993.

The right to an extended lease

A tenant with a long lease of a flat has a statutory right (subject to meeting the statutory qualifying criteria) to a 90-year extension under LRHUDA 1993, on broadly the same terms as the existing lease, at a peppercorn rent, on payment of a premium. The tenant may exercise the right even though...

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Louise Clark

Louise Clark Mediation

During a career spanning more than 30 years as a solicitor with Charles Russell Speechlys LLP Louise advised on all aspects of residential and commercial property disputes and established a reputation for assisting clients to achieve their objectives through negotiation, mediation or litigation. Louise is also a CEDR and ADR accredited mediator and has developed extensive experience in mediation of property disputes. Since retiring from Charles Russell Speechlys LLP in April 2021 Louise has focused on writing for property publications and developing her mediation practice. For more details visit www.louiseclarkmediation.co.uk. ...

Web page updated on 28/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...