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What is an Overage?
08 July 2024
An Overage is an agreement where the subsequent owner pays additional sums to the previous owner if the land is, for example, developed. The Overage can apply for as long a period as the parties agree. The basis on which the payment is made can either be a fixed price or is more usually by…
What is an Option Agreement?
28 May 2024
An Option Agreement is a legally binding contract between two parties – the landowner and the purchaser (often a developer) of the option. In summary, an option agreement provides a mechanism for a potential land transaction, allowing the buyer to secure the right to purchase the property within a specified timeframe. Purpose and Structure: The…
Alternative solutions to eviction
24 April 2024
Eviction should generally be considered a last resort, as it can be a time-consuming and costly process for both landlords and tenants.