Development Overage - Tapa dura

Sinopsis

An explanation of an evolving area of property practice used increasingly in recent years by private landowners, commercial companies and government departments. Overage, or clawback, can be used to ensure that a landowner selling land can share in every subsequent increase in its development value. Various methods may be employed to achieve this objective, and all have their potential drawbacks as well as benefits. Christopher Jessel explains each in detail, analyzing its appropriateness to the owner's and purchaser's objectives and circumstances and offering solutions to practical problems. For each method he explains how to ascertain the "trigger" event for payment, how to calculate the amount of any payment and how to enforce payment obligations. There is an extensive chapter on drafting, presenting numerous models for property draftsmen.

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