Overage
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When two competing dispute resolution mechanisms collide
Using overage to maximise the price paid for land with development potential is not straightforward
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Triggers for overage liability may be entirely predictable events
The term “overage” is often used to describe deferred consideration for land…
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How hard must you work to make yourself liable to pay £1.4m?
Did a developer use “reasonable endeavours” to satisfy conditions in an overage agreement?
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Overage due despite problems with building regulations
One of the standard triggers for the payment of overage is the grant of planning approval. But most developments require other approvals as well – which caused problems in London…
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Court of Appeal upholds £750,000 overage award
The purchaser of a £7m Ilford property has failed in an appeal against a ruling that it must pay £750,000 under an overage agreement.
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The court has implied a term into an option agreement, thereby rescuing the payment of overage
If an overage agreement is not watertight, an unscrupulous buyer may try to take advantage of loopholes in the wording to escape liability. As a result, sellers would be well…
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Ramping up the overage
Allyson Colby is all over a recent High Court decision that shines a spotlight on practical problems arising in overage transactions
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Ramping up the overage
Allyson Colby is all over a recent High Court decision that shines a spotlight on practical problems arising in overage transactions
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Breach of an overage agreement rendered a buyer liable for substantial damages
The contract for sale of what was, reputedly, Britain’s oldest brewery came under the legal microscope in Minerva (Wandsworth) Ltd v Greenland Ram (London) Limited [2017]
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The high court has interpreted a release mechanism in an overage agreement generously, without applying the ‘eiusdem generis’ rule
Restrictions are often used to protect overage – and do so by preventing disponees from registering transfers or leases without a certificate confirming that overage has been paid, or that…
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The permitted use of accommodation for planning purposes was relevant to, but did not govern, the interpretation of an overage clause
The term “overage” describes additional sums that a seller hopes, or expects, to receive for land that may be developed, but which is sold before its development potential is fully…
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A valuer’s decision on the meaning of an overage agreement was not manifestly erroneous
The scope of an expert’s remit will depend on the terms of reference agreed by the parties. If they stipulate that his decision is final, the court cannot set it…