Taking the complication out of overage arrangements
When assisting clients selling land I am sometimes asked about "overage" or "clawback" arrangements.
Typically a person is proposing to sell land at its current value, but it may be worth more in the future if planning permission is granted. There are good reasons to sell now, but the person selling wishes to have a share in any increase in the value of the land if and when it happens.
The legal device entitling the seller to a share in any potential increase in land value is commonly called overage, or clawback.