True or False: A lease extension adds 90 years to the existing lease term.

True or False: A lease extension adds 90 years to the existing lease term.

• A. False
• B. True
• C. Depends on the property
• D. Cannot be determined

Answer: (B)

When a lease is extended under the statutory process, the term is increased by 90 years. This means the new lease length is the remaining term plus 90 years. For example, if 60 years are left, after extension the lease will run for 150 years. This 90-year uplift is standard for statutory extensions, not dependent on the property type or other factors (informal extensions can vary, but the statement describes the statutory outcome). So the statement is true.

When a lease is extended under the statutory process, the term is increased by 90 years. This means the new lease length is the remaining term plus 90 years. For example, if 60 years are left, after extension the lease will run for 150 years. This 90-year uplift is standard for statutory extensions, not dependent on the property type or other factors (informal extensions can vary, but the statement describes the statutory outcome). So the statement is true.