This course is a practical legal training course designed to help property professionals understand and apply key contractual tools in land and development transactions.
Whether you’re involved in acquisitions, disposals, or strategic land deals, these mechanisms are essential for managing risk, securing future value, and structuring deals effectively. This course provides a clear overview of how and when to use exclusivity agreements, option agreements, conditional contracts, and overage clauses with a focus on legal compliance, commercial drivers, and negotiation strategy.
Designed by experienced legal practitioners within our Social Housing real estate team, the course is grounded in UK property law and tailored to the realities of development transactions.
This course covers:
- Understanding the purpose and structure of exclusivity agreements, including how they protect negotiations and what risks they pose to both parties.
- Learn how option agreements work in development contexts, including legal requirements under Section 2 of the Law of Property (Miscellaneous Provisions) Act 1989.
- Identify the key terms to include in Heads of Terms for option agreements, such as option periods, fees, trigger events, and assignment rights.
- Explore the use of conditional contracts, including how conditions precedent (e.g. planning, funding) affect enforceability and deal certainty.
- Recognise the strategic use of overage clauses (also known as clawback provisions), including how they allow sellers to benefit from future uplift in land value.
- Evaluate the commercial pros and cons of each agreement type from both buyer and seller perspectives.
- Apply best practice in drafting and negotiating exclusivity periods, longstop dates, option notices, and overage triggers.
- Understand how these agreements impact title, valuation, and future development potential.
- Gain confidence in managing legal obligations and protecting your position in property transactions.
