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Farm Business
Agricultural Matters
Effect of overage on land value/price
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<blockquote data-quote="holwellcourtfarm" data-source="post: 6087446" data-attributes="member: 42914"><p>In simple terms we could add buildings for agricultural use or telephone masts (which we did) without penalty. Sale of all or part triggers the 50% clawback (after deducting legal costs) and the clawback passes to the new owner with the new base price. Development other than agriculture triggers clawback payable AT GRANT OF PLANNING on the value uplift from gaining planning but then releases that portion from the clawback. There is a clause preventing gaining a low value permission to gain release them going for a higher value use. The agreement is enforced by a charge at land registry preventing change of ownership being registered unless the beneficiaries solicitors issue a certificate of compliance.</p></blockquote><p></p>
[QUOTE="holwellcourtfarm, post: 6087446, member: 42914"] In simple terms we could add buildings for agricultural use or telephone masts (which we did) without penalty. Sale of all or part triggers the 50% clawback (after deducting legal costs) and the clawback passes to the new owner with the new base price. Development other than agriculture triggers clawback payable AT GRANT OF PLANNING on the value uplift from gaining planning but then releases that portion from the clawback. There is a clause preventing gaining a low value permission to gain release them going for a higher value use. The agreement is enforced by a charge at land registry preventing change of ownership being registered unless the beneficiaries solicitors issue a certificate of compliance. [/QUOTE]
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Effect of overage on land value/price
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