1170. Value limits of house and premises; in general.

The right to acquire the freehold of a leasehold house no longer depends upon the value of the house1 and premises2, as was originally the case.

The right to acquire an extended lease is, however, conferred upon the tenant of a leasehold house only if the combined value of the house and premises does not exceed the prescribed amount. If the tenancy was entered into before 1 April 1990 or on or after that date in pursuance of a contract made before that date, and the house and premises had a rateable value