Why should you buy Development Land Overage and Clawback Second edition
Development Land Overage and Clawback is the authoritative explanation of this evolving area of property practice, used increasingly by landowners, commercial companies and government departments.
Overage, or clawback, can be used to ensure that a landowner selling land can share in any subsequent increase in its development value. Various methods may be employed to achieve this objective; each method is explained in detail, analysing its appropriateness to the owner's and purchaser's objectives and circumstances and offering solutions to practical problems. How to ascertain the 'trigger' event for payment, how to calculate the amount of any payment and enforce payment obligations are explained in full. An extensive chapter on drafting sets out the principles to be followed and is supplemented by an appendix which also includes several clauses for inclusion in documents.
This substantially revised second edition takes account of the Land Registration Act 2002, the introduction of SDLT and the growing number of case laws in this area.
Potentially vast sums may be lost if a practitioner misadvises a landowning client.
Development Land Overage and Clawback will ensure that all practitioners are well-informed of all the opportunities and dangers associated with this complex and evolving area of commercial land law.
Table of contents
Purpose and Origins
Promise to Pay and Assignment
Mortgages and Charges
Landlord and Tenant Options
Government Clawback and Tax
Negotiation and Drafting
Contaminated industrial site
Farmland near a village
Large garden E Family landed estate
Surplus charity land
Short-term leisure development
Personal planning consent
Sale and leaseback
Future variation of planning consent
Section 106 control
Precedents and Drafting
Promise to pay and positive covenant
Excess payment on sale