Overage (also known as clawback) is an essential part of most property transactions. Indeed, it will generally be negligent for a lawyer acting for a seller not to provide for their client to receive overage if the property turns out to be worth more than was originally thought to be the case. Overage is a particularly tricky area to deal with, and this webinar will focus on the main issues to be considered, whether acting for the seller or for the buyer.
Delegates will learn the following –
- Duration of the obligation to pay overage
- Triggers for the payment of overage – planning permission, sale and others
- Calculating overage – valuation and formulae
- Securing the overage
- Tips and traps from the cases