Section 261 — Property Law Act 2007: Relief against lessor’s refusal to enter into renewal or sell reversion to lessee

261 Relief against lessor’s refusal to enter into renewal or sell reversion to lessee (1) This section applies to a lease if— (a) the lessor has covenanted in writing with the lessee that,— (i) on the expiry of the term of the lease, the lessor will extend the term of the lease, renew the lease, or enter into a new lease of all or part of the premises to the lessee; or (ii) on the expiry of the term of the lease, or at some earlier time, the lessor will transfer or assign to the lessee all or part of the reversion expectant on the lease; and (b) the obligation of the lessor referred to in paragraph (a) is conditional on— (i) the fulfilment of any condition or the performance of any covenant or agreement of the lessee; or (ii) the lessee giving notice, within a specified time or in a specified manner, of the intention to exercise the right to require an extension or a renewal of the lease or the entering into of a new lease or the transfer or assignment of the reversion; and (c) the lessee is in breach of the condition, covenant, or agreement, or has failed to give the notice within the specified time or in the specified manner; and (d) the lessor has refused to extend or renew the lease, or enter into a new lease, or transfer or assign the reversion, as the case may be. (2) If this section applies to a lease, any of the following persons may apply to a court in accordance with section 262 for relief under section 264 : (a) the lessee: (b) a mortgagee of the leasehold estate or interest: (c) a receiver appointed in respect of the leasehold estate or interest: (d) if 2 or more persons are entitled to the leasehold estate or interest as joint tenants, 1 or more of those persons on behalf of the other joint tenants. (3) If an application made in accordance with subsection (2)(d) is not made by all of the joint tenants, the application must be served on every joint tenant who is not already a party, unless the court orders otherwise. Compare: 1952 No 51 ss 120 , 121