A standard document enabling a seller to share in any increase in value of a property following the implementation of a planning permission granted after completion of a sale. 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 has been 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.