Overage Drafting Traps
12.30pm, Monday 13th September 2010
Depsite the recession, overage continues to be a major issue in property transactions. Drafting overage agreements is fraught with difficulty. This session will look at the following issues:
– Devices used to protect overage – have you fully secured your overage?
– Dealing with onward disposals of the land.
– Land Registry restriction problems.
– Examples of overage errors arising from recent reported case cases.
– Will overage be triggered when expected? Are multiple triggers required?
– Triggering overage with planning permissions and disposals.
– Calculating the amount of SDLT to be paid.
– Reducing the risk of negligence when drafting overage clauses.
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