Overage deed (long form—percentage of amount by which development receipts exceed a series of thresholds)

Published by a UUÂãÁÄÖ±²¥ Property expert
Precedents

Overage deed (long form—percentage of amount by which development receipts exceed a series of thresholds)

Published by a UUÂãÁÄÖ±²¥ Property expert

Precedents
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Date: [insert formal date of deed DD-month-YYYY]

Parties

  1. 1

    [insert name of seller ][of [insert address] OR incorporated in England and Wales with company registration number [insert company registration number] whose Registered office is at [insert address]] (the Seller); and

  1. 2

    [insert name of buyer ][of [insert address] OR incorporated in England and Wales with company registration number [insert company registration number] whose registered office is at [insert address]] (the Buyer).

Recitals

    1. (A)

      [By a sale and purchase agreement (the 'Contract') dated [insert date] the Seller agreed to sell the Property to the Buyer.]

    1. (B)

      By a transfer dated [on the date of this deed OR [insert date in its full format DD-month-YYYY]] the Seller transferred the Property to the Buyer.

    1. (C)

      This deed is supplemental to [both the Contract and] the Transfer.

    1. 1

      Definitions

      In this Deed, the following definitions apply:

      Acceptable Planning Permission

      1. •

        Planning Permission which is acceptable to the Buyer[(acting reasonably) OR (in its absolute discretion)];

      [Affordable Housing

      1. •

        has the meaning given to the term 'social housing'

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Jurisdiction(s):
United Kingdom
Key definition:
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