To effectively advise and represent property developers, you need a robust grasp of specific contractual topics, including options, conditional contracts and site promotion agreements. This is an essential course if you’re seeking to consolidate your legal and practical knowledge of property development contracts.
Property development is booming, despite fears that the impending Brexit would dampen development. However, property development is a complex area, and developers can be blind to the potential problems – until they are bankrupted by them. Successfully navigating the legal and practical minefield of property development needs a firm grasp of many areas of law – and sound commercial awareness.
If you are an experienced solicitor or other practitioner dealing with property and land development, this course is designed with you in mind. Our well known and respected property expert, Hannah Mackinlay, will take you through the vital property development agreements and other documents, so that you can effectively advise your clients on the best route to take in any given transaction.
Key learning outcomes
- Understand the range of contract documentation for property development
- Appreciate when options can be exercised, triggers in conditional contracts, and obligations to sell
- How best to liaise and communicate with other professionals and third parties
What does this course cover?
This course covers the documentation you need to be familiar with, including:
- Exclusivity Agreements, Call Options, Put Options and Pre-emption Agreements
- What they are
- When to use them
- The advantages and disadvantages of the different agreements
- Protection under them
- Pricing and valuation issues
- Timing and extension
- Control of seller's actions
- Exercising options, and protection
- Stamp Duty Land Tax (SDLT) issues
- Conditional Contracts
- Triggers, e.g. what amount to 'satisfactory planning permission'
- Affordable housing and other constraints
- Defining 'onerous' conditions in a practical way
- Calculating the price-valuation points and formulae
- SDLT issues on sales and assignments
- Land Promotion Agreements
- Key features and problems of land promotion agreements
- Obligations to sell
- Securing payment and dividing the spoils
- Avoiding SDLT issues
- Liaison with other professionals
- The importance of being a team player with your client's consultants and advisers
- Communication and reporting issues