‘A Practical Guide to the Law of Overage in England and Wales’ by Kamram Rahman

Description

Every acre of land has development potential. This means that overage, or claw-back, is an important feature of the property landscape. Over the last few decades, developers, landowners and lawyers have gradually come to understand this peculiar area of law, and recent court decision have shown what happens when they get it wrong.

Every practitioner knows that most property documents are like dinner jackets, which can be drafted from a precedent library with a handful of standard amendments. But that’s not how overage works. Each overage agreement is like a show-stopping ballgown, carefully tailored to the needs of the parties and the particularities of the project. To design an overage agreement, you need to understand how the key components such as triggers and approvals work, and how they can be used to allocate risk, reward and control between landowners and developers.

In ‘A Practical Guide to the Law of Overage’, Kamran Rahman distils this fascinating topic into an easy-to-follow, commercially focused guide for anyone involved in property development. Using typical scenarios s well as drawing on recent caselaw, he explains what the commercial risks are, and how those risks are allocated by different legal structures. Whether you’re starting off in the field, or already have a few schemes under your belt, this important book brings together everything you need to understand the fundamentals of what you’re advising on.

ABOUT THE AUTHOR

Kamran Rahman qualified as a solicitor in 1995 and has decades of experience in property development. He has advised investors and developers of all sizes, always leading with his commercial and practical understanding, and keeping his detailed knowledge of the law in the background.

CONTENTS

Chapter One – Introduction to Overage
Chapter Two – Introduction to Basic Overage Structures
Chapter Three – The Land Law Part of Overage
Chapter Four – What Is Land Value?
Chapter Five – Case Law: When Valuation Goes Wrong
Chapter Six – Risk and Return
Chapter Seven – Knowing Risk
Chapter Eight – Allocating Risk
Chapter Nine – How the Overage Amount Allocates Risk
Chapter Ten – Introduction to Triggers
Chapter Eleven – How the Trigger Allocates Risk and Control
Chapter Twelve – Combining Option and Overage
Chapter Thirteen – Flexibility and Finality Provisions
Chapter Fourteen – Using “Reasonable Endeavours” To Control
Chapter Fifteen – Controlling Approvals
Chapter Sixteen – Development Appraisals and Deductions
Chapter Seventeen – When You Need Equalization
Chapter Eighteen – Common Pitfalls
Chapter Nineteen – Lenders
Chapter Twenty – Tax
Chapter Twenty-One – Final Thoughts