Drafting & Agreeing Flawless Overage Agreements

Introduction

Overage agreements are one of the trickier property transaction documents to get right as the interests of the two parties are in conflict. Imposing overage on land as part of a sale has become increasingly common and accordingly overage agreements themselves have become more complex.

The webinar will enable you to draft or negotiate overage agreements that better protect your client’s interests and to consider fully potential circumstances that might not otherwise be addressed in the overage agreement. This will enable you to avoid claims from unhappy clients because they have to make an overage payment in circumstances they had not intended to trigger a payment or conversely not to receive a payment in circumstances when they had expected to receive one.

Drawing on expert speaker Peter Foskett's knowledge of dealing with overage agreements for over 20 years, the webinar will also address common problem areas and propose solutions and clauses to address them.

What You Will Learn

This webinar will cover the following:

• Principal terms needing to be addressed in preparing the first draft
• Other terms to be considered
• Negotiating overage agreements
• Reporting to clients on overage agreement contents
• Impact of Anti Money Laundering rules on paying overage
• Protecting the obligation to pay overage
• Ensuring the ability to deal with land subject to overage both on a day to day basis and on sale
• Overview of tax implications of overage

This webinar was recorded on 23rd October 2024

You can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email [email protected] for more details.