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This popular book explains the rights of long leaseholders to acquire the freehold of their property, extend the term of their lease, and exercise their right to manage a property. The second edition has been thoroughly updated to include: new chapters on the service of notices, taxation and valuation issues improved and expanded practical guidance new precedents, including a participation agreement coverage of all the developments in case law since the last edition, including Sportelli, Nailrile, Vale Court and Aggio. The author's focus on practical matters assists practitioners to guide their clients through each stage of acquiring their rights and the complicated requirements of the legislation are helpfully simplified by features such as summaries, key points, checklist and charts. Updated and new precedents are collected in an appendix and also available on the accompanying free CD-ROM for convenience and forms in the appendix.