Company goes bust - overage payable?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Company goes bust - overage payable?

    Property with land bought by a company, overage clause registered at LR. PP granted and overage due, company goes bust before it's paid. Will the original owner get the overage due or will they be in the queue behind the bank and get circa 2p in the £?
    This is theoretical ATM, just looking for potential pitfalls of selling to a company rather than an individual.

    #2
    What is an overage clause ? What is PP and ATM ?

    Comment


      #3
      Originally posted by Gordon999 View Post
      What is an overage clause ? What is PP and ATM ?
      ATM - At the moment
      PP - Planning permission (I think)

      Comment


        #4
        Originally posted by BTL investor View Post
        ATM - At the moment
        PP - Planning permission (I think)
        You're right. Overage - also known as claw back - payment of a proportion of the uplift in value when residential/agricultural land becomes building land.

        Comment

        Latest Activity

        Collapse

        Working...
        X