Overage | What is it?


Overage is a contractual mechanism which allows a seller of land to potentially benefit from any subsequent increase in the land's value after having sold it.


Basically it allows the seller to clawback some of the lost profit where land is developed and planning permission is granted resulting in an increase in value.


Obviously not so great for the buyer of the land who will lose out.


Read more here…

https://www.birketts.co.uk/legal-update/what-is-overage-and-how-does-it-work/




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