Section 120 Requirements for leases which are for 7 years or less or which are assured tenancies etc.F3
England and Wales
Subsection (2) applies where the proposed disposition is the granting of a lease for a term ending not more than 7 years after it is granted (other than one granted wholly or partly in consideration of a fine).
a lease for a term ending not more than 7 years after it is granted (other than one granted wholly or partly in consideration of a fine )F2, or
a lease that is an assured tenancy within the meaning of Chapter 1 of Part 1 of the Housing Act 1988.
The requirements mentioned in section 117(2)(b) are that the charity trustees must, before entering into an agreement for the lease—
obtain and consider the advice on the proposed disposition of a person who is reasonably believed by the trustees to have the requisite ability and practical experience to provide them with competent advice on the proposed disposition, and
decide that they are satisfied, having considered that person's advice, that the terms on which the disposition is proposed to be made are the best that can reasonably be obtained for the charity.
Annotations
Textual amendments
- F1
Words in s. 120(1) renumbered as s. 120(1)(a) (1.5.2026 for specified purposes) by Renters’ Rights Act 2025 (c. 26), s. 145(1)(8), Sch. 2 para. 71(3)(b) (with ss. 138, 146(1), Sch. 6 paras. 1, 3, 4, 16, 17); S.I. 2026/421, reg. 2(c)
- F2
S. 120(1)(b) and word inserted (1.5.2026 for specified purposes) by Renters’ Rights Act 2025 (c. 26), s. 145(1)(8), Sch. 2 para. 71(3)(c) (with ss. 138, 146(1), Sch. 6 paras. 1, 3, 4, 16, 17); S.I. 2026/421, reg. 2(c)
- F3
Words in s. 120 heading inserted (1.5.2026 for specified purposes) by Renters’ Rights Act 2025 (c. 26), s. 145(1)(8), Sch. 2 para. 71(3)(a) (with ss. 138, 146(1), Sch. 6 paras. 1, 3, 4, 16, 17); S.I. 2026/421, reg. 2(c)