Overage Law and Precedents is a practitioner's guide to this evolving area of property law. Overage, or clawback is a mechanism often used by land owners, businesses or government departments to ensure that anyone selling land can safeguard a financial benefit in any subsequent increase in the land's development value. This book looks in detail at the terminology of this area of law, at positive and negative overage. It analyses the ways a legal advisor can protect their client by offering solutions to practical problems. The book assesses 'trigger' events for payment, how to calculate the amount of any payment and ways of ensuring payment. There is also a chapter on the implications for tax purposes. The book carefully sets out the principles to be followed and is enhanced by a precedent section to assist the busy practitioner. There are large sums of money involved with this area of law; practitioners have to tread carefully to protect the interests of their client.
Overage Law and Precedents will give guidance and confidence to practitioners that they are well-informed of all the risks and opportunities in this complex and evolving area of property law. Contents includes: Introduction; Terminology; Payment triggers; The obligation to pay; Ensuring payment; Tax; Precedents.
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