Overage agreement: buyer side; simple
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this simple overage agreement
This document is for a property buyer. This agreement has been drawn for you to present to your prospective seller and around which you can negotiate your agreement. This is a comparatively simple version in which the seller’s rights do not pass from the present buyer to a future buyer. The effect is that the present buyer is bound for the overage period, but can sell a title “clean” of attached overage.
Furthermore, to make calculation of the overage charge simple, it bites only when a planning consent increases the land value by a given (substantial) sum. It thus avoids the possibility of multiple small overage charges.
The aim of this agreement is to provide a framework which entices future owners to develop and not one which ensures that they do not develop.
When to use this buyer’s overage agreement
This agreement can be used in the acquisition of any land, for any purpose. However, we assume it will be used most frequently for a situation where the buyer intends to apply for planning permission for substantial development.
This document is in plain English. Nonetheless it is a sophisticated document drawn by a property specialist lawyer. It is suitable whether you are an individual or work through a company incorporated in Canada.
Net Lawman also offers an overage agreement for a buyer where the obligations of the buyer are rather greater but nevertheless considerable softer than the very tough versions often offered by a seller.
Contents of this overage agreement
- Overage Payment: payment terms
- The Overage Payment: Surveyor’s valuation
- Release to enable Transfer
- Miscellaneous matters
This document was written by a solicitor for Net Lawman. It complies with current Canadian law.
"I needed an Agreement and Google, as always, was where I headed. I found the Net Lawman site and initially I thought I needed a relationship type Agreement but the Lodger one was absolutely perfect.
I didn't think it would be so easy so would recommend your website to anybody who was looking for an Agreement to suit their needs."Wendy Auger
"I needed to start a company fast, I searched and after looking at a few websites I came across netlawman, by far the easiest around. I will be looking again for when I need future documents fast. Thank you."textcards
"Net Lawman has helped me through several procedures. The documents in plain English, the drafting service and the delightful customer service means I can get the job done properly, at a price that doesn't affect a small businesses bottom line. Thank you!"Dan White