If you require a law firm with vast knowledge and experience in the complexities of overage and claw back agreements, Glaisyers can help.
The parties to a land transaction may agree that the seller shares in any enhanced value if the land is subsequently developed. This is usually known as “Overage”.
Overage provisions seek to set out a value sharing formula and provide that such additional value is shared between the seller and the buyer. The Overage may be secured by a charge on the property or protected by covenants on the title depending upon the agreement reached between the parties.
“Claw back” is a similar concept, but usually applying where there has been grant funding to develop a site and triggered by revenues exceeding certain target figures.
Glaisyers are an enthusiastic and experienced bunch of lawyers who have expert knowledge and experience enabling us to deal with the complexities of overage and claw back. We are able to provide overage arrangements in documentation to protect value for the Seller but ensure that such arrangements do not materially affect the viability of the site for development.
We’ll make complex issues straightforward by consistently delivering a personal, high quality and cost effective service for you and your business.
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