My solicitor has told me that when a leaseholder acquires a lease extension by virtue of the 1993 Act, the freeholder benefits from an implied right to take possession of your flat either i. during the 12 months leading to the expiration of the original term of your existing lease or ii. during the five year period leading to the expiration of your extended lease term on the grounds that they wish to develop the site of the building.
What does it mean in real terms?