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1. probably 5 years ago.
2. yes and also the buyers solicitor asked us to confirm if the overage was to be protected by a restriction to which my solicitor replied YES.
3. yes the overage was provided for in the transfer deed.
4. yes the buyer is still the owner.
hi the overage has another 10 years to run so in essence another 5 years left re the 15 years limit.
what about rectification of the contract?
the site is ripe for development and is likely to be allocated for housing later this year.
what puzzles me is that at the moment, i take it the under personal covenant the owner is still liable to make a payment to me following planning providing he is still the title holder.
therefore what in essence would i be suing the solicitors for?
hi, i should have advised you (although the question was never put to me) is that the solicitor has already tried to register the overage with a notice which was refused by the registry. secondly he tried to convince the owner to allow the restriction which was met by a firm NO!
a hypothetical question say the owner is preparing to wait another 10 years so my overage is over. could the solicitors use that as a defence i.e that my overage would be worthless as the owner had no intention of disposing of the land with planning permission. therefore how does the court view the fact that if i looked to sue the solicitors say next year when the owner was till the title holder, but he had not applied for planning, how would the loss be assessed?
i'm still a little lost! at the moment as we know there is no loss. for the next 5 years the owner could do nothing and then apply for planning. he could then sell the plot for next to nothing and flee. if that occurred in 5 years and 1 day i would have no recourse against the solicitors.
if i looked at the above scenario now and i look to protect myself i take it i could start an action against the solicitors as you detailed above. however i am still struggling to see how the court would calculate my losses, especially as at present my interest is protected albeit by a personal covenant?
sorry for harping on but what i am trying to get my head round is that if i sue now does it matter that 1) there is a personal covenant, 2) the owner has yet to apply for permission & 3) the owner could wait for 10 years?
my potential claim is for over 300k. if the solicitors have no joy in registering the restriction would my claim, subject to experts reports, be straightforward?
one last point, if the owner sold up tomorrow and he hadn't applied for planning permission is he under any obligation re his purchaser and the overage?
if i do sue my former solicitors for negligence and succeed, what then happens to the overage clause, if for example it follows its course and say the plot is developed for example in 8 years time? will the solicitors insurers continue to monitor the situation? cheers