Development Land Overage and Clawback
Development Land Overage and Clawback is the authoritative explanation of this evolving area of UK 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, analyzing its appropriateness to the owner's and purchaser's objectives and circumstances, and also offers solutions to practical problems. How to ascertain the 'trigger' event for payment, how to calculate the amount of any payment, and how to enforce payment obligations are fully explained. An extensive chapter on drafting describes the principles that need to be followed. The book is supplemented by an appendix which also includes several clauses for inclusion in documents. This substantially revised second edition takes account of the UK's Land Registration Act 2002 and the growing number of UK case laws in this area.
Publication Date: 7/1/2007