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An overage agreement is a highly complex arrangement between the buyer and seller of land and requires very careful drafting in order to make it binding.
Overage agreements
An overage agreement entitles the seller of land to receive extra payment from the buyer in addition to the original purchase price should certain events occur, such as an increase in the value of the land due to obtaining planning permission.
Acting for landowners and buyers throughout England and Wales, our team of property solicitors advise on all the legal and practical issues that arise when negotiating or becoming bound by an overage agreement.
Whether you are a seller benefiting from overage, or a buyer subjected to its terms and conditions, our legal experts are highly experienced in ensuring that a legally-accurate, correctly-documented overage agreement is in place to protect your interests now and in the future.
Our advice includes guidance on:
It is important to be aware that overage agreements can cause taxation and other financial issues. If this is likely to occur, we have a network of experts in accountancy, tax and valuation who we collaborate with to manage your risks and ensure a commercial viable arrangement.
Overage agreements
Our commercial property solicitors have a wealth of experience in advising on all types of complex and high-value overage agreements, amassing detailed knowledge on the pitfalls and risks associated with such arrangements and how these can be avoided.
We frequently advise investors, housebuilders, landowners, developers, and property management companies on overage agreements, ensuring that the benefits between the involved parties are mutual.
Organisations that we have advised on negotiating and implementing overage agreements span a wide range of sectors, including:
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