Q&As

The terms of an overage deed state that the formula for calculating the overage due is 50% of the difference between (a) land value for that party benefitting from the planning permission at implementation and (b) the purchase price (or apportioned price for the part benefitting from the permission), index linked to RPI from date of purchase. Do the Lexis®PSL overage standard templates provide drafting notes/clauses for index linking and RPI? Would alternative indexes such as HM Land Registry House Price Index or the House Price Index published by the Office For National Statistics be more appropriate?

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Published on LexisPSL on 16/09/2020

The following Property Q&A provides comprehensive and up to date legal information covering:

  • The terms of an overage deed state that the formula for calculating the overage due is 50% of the difference between (a) land value for that party benefitting from the planning permission at implementation and (b) the purchase price (or apportioned price for the part benefitting from the permission), index linked to RPI from date of purchase. Do the Lexis®PSL overage standard templates provide drafting notes/clauses for index linking and RPI? Would alternative indexes such as HM Land Registry House Price Index or the House Price Index published by the Office For National Statistics be more appropriate?

The terms of an overage deed state that the formula for calculating the overage due is 50% of the difference between (a) land value for that party benefitting from the planning permission at implementation and (b) the purchase price (or apportioned price for the part benefitting from the permission), index linked to RPI from date of purchase. Do the Lexis®PSL overage standard templates provide drafting

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