Overage Agreements
Expert Legal Support for Overage Agreements
Overage agreements are a crucial tool for landowners who want to share in the future uplift in the value of their land, particularly after development or a change in planning permission. At Lawson West Solicitors, we provide expert legal advice and services to both landowners and developers in structuring and negotiating overage agreements. Our aim is to protect your interests and ensure a fair return on your investment.
What Are Overage Agreements?
An overage agreement, sometimes referred to as a clawback agreement or up-lift agreement, is a legal arrangement where the seller of land retains a right to receive additional payments after the sale if certain conditions are met. These conditions typically involve the granting of planning permission or the development of the land that increases its value. The agreement specifies the terms under which the seller is entitled to receive a percentage of the increased value, ensuring they benefit from the future success of the land.
Our Services for Overage Agreements
At Lawson West Solicitors, we offer a range of services to assist with the creation, negotiation, and management of overage agreements. Our expertise ensures that these agreements are clear, enforceable, and protect our clients' financial interests:
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Drafting and Structuring Agreements: We draft and structure overage agreements to outline the specific conditions that trigger overage payments, such as the granting of planning permission or completion of development. Our goal is to create clear, precise, and enforceable agreements.
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Negotiation Support: We provide expert negotiation support to help clients secure favourable terms. Whether you are a landowner or a developer, we work to ensure that the agreement fairly reflects the risk and reward involved in the transaction.
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Legal Compliance and Advice: We offer comprehensive advice on legal and regulatory compliance, ensuring that overage agreements meet all necessary legal requirements and are structured to withstand legal scrutiny.
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Enforcement and Dispute Resolution: Should disputes arise regarding the enforcement of overage payments, our experienced legal team is ready to provide support. We work to resolve disputes efficiently, protecting your interests and minimising conflict.
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Monitoring and Management: We can assist with the ongoing monitoring and management of overage agreements, ensuring that all parties comply with their obligations and that overage payments are made as agreed.
Why Choose Lawson West Solicitors for Overage Agreements?
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Specialist Knowledge: Our team has extensive experience in property law and overage agreements, providing you with expert knowledge to navigate these complex arrangements.
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Client-Centric Service: We focus on understanding our clients' needs and goals, offering personalised advice and support throughout the lifecycle of the agreement.
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Effective Solutions: We aim to create solutions that are practical, enforceable, and tailored to maximise the financial benefits for our clients. For instance, we recently reviewed the title of a house with development potential but it had an onerous overage provision. We recommended approaching the overage owner to negotiate changes that would benefit both parties with the help of specialist land agent, potentially increasing the property's development prospects.
Contact Us for Expert Legal Advice on Overage Agreements
If you are considering entering into an overage agreement or need advice on an existing arrangement, contact Lawson West Solicitors. Our experienced team is ready to provide expert legal guidance to help you secure your future interests.
