What is a Section 5 Notice?

A Section 5 Notice is the legal notice the freeholder of a property must serve on their leaseholders (tenants) if they wish to sell their freehold. It gives the leaseholders a ‘right of first refusal’ to buy the freehold before the landlord offers it on the open market. The freeholder cannot sell to another party within that time or offer the freehold for less than proposed in the notice.