A standard document enabling a seller to share in any increase in value of a property if the buyer disposes of the property (or any part of it) with the benefit of planning permission granted during the agreed overage period. Provision is made for a restriction to be entered against the buyer's title and for the creation of a chain of deeds of covenant with the buyer's successors in title.

The document is drafted as a standalone overage deed to be entered into on completion of a sale of a property. The operative provisions may also be adapted for use in a schedule to a transfer or a contract for sale.

NOTE: Overage provisions must always be drafted and adapted to fit the particular circumstances and terms of the transaction. The standard document should be amended and modified accordingly. This standard document and its integrated drafting notes highlight issues that commonly arise and should be taken into consideration. However, it is likely that there will also be other factors arising out of the particular transaction that must be taken into account.