There may be more than one possible trigger for overpayment. It is customary to provide for a fixed additional payment if an essential condition is met, such as for example. B the granting of a building permit. Alternatively or in addition, the parties often agree that the developer will pay a share of any profit resulting from the resale of the land and the sale or lease of completed units. Litigation may arise if the overshoot agreement does not specify the extent to which the parties must attempt to meet any conditions or obtain sales or rentals. Creating a dilapidation contract is complex and, as Louis Mathers, a commercial real estate lawyer at Parnalls Solicitors in Launceston, explains, it is essential to get good legal advice right away. “Developers accept that landowners want a fair share of any surplus value in their country,” Louis says, “but they don`t want to take all the risk of market changes or other unexpected events…
