Development land: overage and clawback
Development Land Overage and Clawback is the first authoritativeexplanation of this evolving area of property management practice.Overage, or clawback, has been used increasingly in recent years byprivate landowners, commercial companies and government departments toensure that a landowner selling land can share in any subsequent increasein its development value. Various methods may be employed to achieve thisobjective, though all have their potential drawbacks as well as benefits.Christopher Jessel explains each in detail, analysing it appropriatenessto the owner's and purchaser's circumstances and offering solutions topractical problems.He explains how to ascertain the 'trigger' event for payment, how tocalculate the amount of any payment and how to enforce paymentobligations. An extensive chapter on drafting sets out the principles tobe followed and is supplemented by an appendix which also includes severalclauses for inclusion in documents.Potentially vast sums may be lost if a practitioner misadvises alandowning client. Development Land Overage and Clawback will ensure thatall practitioners are well-informed of all the opportunities and dangersassociated with this complex and evolving area of commercial land law.Available on 28 days' approval.
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agreement apply arise arrangement asset assignment bargain benefit building business tenancies buyer charge Charities Act 1960 clawback common law considered contract Council Country Planning Act court current use value deed demised premises development value disposal EGLR enforceable entitled equitable exercise farm fee simple Finance Act 1974 freehold future grant of planning granter imposer injunction landowner Lands Tribunal lease leasehold limited LJ Ch mortgage negative overage normally obligation option original overage land overage owner overage payment overage rights P&CR payable payer person Planning Act 1990 planning consent planning permission positive covenant provisions purpose Quia Emptores ransom strip Register relation relevant land rent rentcharge restrictive covenant right of re-entry rule against perpetuities rules secure sell shares sold subinfeudation Town and Country transfer trigger event occurs trust Value Added Tax wish Wrotham Park