Overage

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Practice notes
The implied or deemed surrender and re-grant of a lease arises where an agreed variation of the terms of the original lease is so fundamental that the...
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9th Nov
Practice notes
Effect of appointmentA fixed charge receiver is appointed under a legal charge or mortgage and only has power to deal with and dispose of the charged...
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9th Nov
Practice notes
Generally, the tenant remains liable for the rent even though the premises have become unusable. Consequently, leases normally contain a provision...
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9th Nov
Practice notes
Coronavirus (COVID-19): The requirements to obtain an EPC before a property is sold or let can be difficult to satisfy when social distancing measures...
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9th Nov
Practice notes
What is a letter of non-crystallisation?A letter of non-crystallisation is required by a buyer’s/lender’s solicitor to confirm that:•a floating charge...
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9th Nov
Practice notes
Vitiation of an insurance policyAn insurance policy may be vitiated (or invalidated) if the insured:•misrepresents or fails to disclose any material...
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9th Nov
Practice notes
The ‘ad medium filum’ rule is a rebuttable presumption that an owner of land which abuts either:•a public or private highway, or•a non-tidal river or...
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9th Nov
Practice notes
What is a rent deposit?A rent deposit is a sum of money that is deposited by a tenant when it takes a lease of premises as security against the...
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9th Nov
Practice notes
The second edition of the Standard Commercial Property Conditions came into force on 1 June 2004 and these conditions are incorporated into many...
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9th Nov
Practice notes
Damages or injunction — the testThe primary remedy for breach of a restrictive covenant is a permanent injunction to restrain the breach. However, the...
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9th Nov
Practice notes
Manorial rights are relics of the feudal system of land tenure. They can still exist in relation to land that:•is former copyhold land, or•was...
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9th Nov
Practice notes
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title...
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9th Nov
Practice notes
The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly...
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9th Nov
Practice notes
Broadly, the doctrine of overreaching enables purchasers (which includes tenants and mortgagees) in good faith for money or money’s worth to rely...
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9th Nov
Practice notes
A certificate of title (also known as a certificate on title) is a particular species of report on title.When solicitors are instructed to investigate...
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9th Nov

Most recent Overage content

Precedents
Application letter—deferral of SDLT on contingent or uncertain consideration[To be printed on headed notepaper of applicant including full contact...
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13th May
Practice notes
This Practice Note is about the VAT implications of overage payments.Why does this matter?Very broadly, VAT will be due on overage if the original...
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Produced in partnership with Martin Scammell 9th Apr
Practice notes
An unpaid vendor’s lien operates as a type of equitable charge giving the vendor full security in equity for payment of the agreed purchase price. It...
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8th Apr
Practice notes
When a solicitor is instructed to draft and negotiate an agreement that includes receipt of overage payments, those instructions include an obligation...
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8th Apr
Practice notes
Overage (sometimes known as clawback or deferred consideration) enables a seller to benefit from an uplift in the value of land (eg where planning...
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8th Apr
Practice notes
Overage is a covenant or contractual obligation by the buyer to make an additional payment to the seller in the event that specified events occur. It...
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8th Apr
Precedents
Date: [insert formal date of deed DD-month-YYYY]Parties1[insert name of seller ][of [insert address] OR incorporated in England and Wales with company...
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9th Mar
Precedents
Date [insert date of deed]Parties1[insert name of seller] of [[insert address] OR incorporated in England and Wales with company registration number...
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9th Mar
Precedents
Date [insert date of deed]Parties1[insert name of seller] [of [insert address] OR incorporated in England and Wales with company registration number...
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9th Mar
Q&As
In answering this Q&A, we have considered the power of a liquidator to deal with the company’s assets after the commencement of liquidation.Section...
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Produced in partnership with Simon Passfield of Guildhall Chambers 15th Feb
Precedents
Date [insert date of deed]Parties1[insert name of buyer] [of [insert address] OR incorporated in England and Wales with company registration number...
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12th Feb
Precedents
Date [insert date of deed]Parties1[insert name of party giving the covenant] of [insert address OR incorporated in England and Wales with company...
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12th Feb
Q&As
Part 25 of the Companies Act 2006 (CA 2006) governs the procedure for a company to register at Companies House a charge that it has created over its...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 5th Feb
Q&As
Full title guaranteeWhere a seller transfers the property with full title guarantee, one of the implied covenants for title is that the seller is...
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Produced in partnership with Kevin Leigh of No 5 Chambers 22nd Jan
Q&As
Restriction and successor covenantThe question of how to comply with the overage deed will of course depend upon its provisions. However it is likely...
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22nd Jan
Q&As
The sale of local authority land is governed by section 123 of the Local Government Act 1972 (LGA 1972). This provides:•subject to the following...
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Produced in partnership with Kevin Leigh of No 5 Chambers 22nd Jan
Q&As
Does the benefit of an overage covenant run with the land?The payment of overage is a positive covenant and so it is possible for the benefit of it to...
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22nd Jan
Q&As
It is assumed that the company was dissolved by way of the voluntary striking off procedure or the Registrar of Companies’ powers to strike off a...
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22nd Jan

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