Options and overage agreements cover contracts that grant a future right to acquire land or property at a set price, and require a payment if a future event or uplift occurs. In commercial property, solicitors draft, negotiate and register these options and overage provisions, check planning and title implications, and ensure the mechanism correctly reflects the client’s interests. They also advise on enforcement and potential disputes relating to option exercise, uplift calculations, and payment triggers.
What a solicitor handles in these matters
The solicitor handles the drafting of the option or overage deed, registers interests at the Land Registry, and negotiates terms such as exercise windows, price review, and uplift mechanisms. They assess title constraints, easements, and any planning conditions that could affect future development. If disputes arise, they advise on enforcement, variation, or termination under the agreed terms.
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