The Situation
We were instructed to assist with the administration of an estate that included a small piece of grazing land in a rural village.
As with many estates, alongside the legal process there was a clear focus on making sure the assets were handled properly and that the beneficiaries were supported in making informed decisions.
The Challenge
Although the land was being used for grazing, there was some potential for future development. The beneficiaries wanted to proceed with a sale, but were understandably concerned about whether they might miss out on any increase in value at a later date.
They also needed clear, practical guidance on how best to approach the sale and ensure the land was marketed appropriately.
How We Helped
We worked closely with our agricultural team to make sure the right expertise was in place from the outset.
We liaised with trusted land agents to agree the most suitable sale strategy, helping to ensure the land was marketed effectively and achieved a fair price.
Alongside this, we drafted a bespoke overage clause as part of the sale. This provides protection for the beneficiaries if the land is developed in the future, allowing them to benefit from any uplift in value rather than losing out once the sale has completed.
The Outcome
The beneficiaries were able to move forward with the sale with confidence, knowing that both their immediate and longer-term interests had been considered.
By combining our trusts and estates experience with specialist agricultural insight, we were able to support them through the process and help secure a balanced outcome.
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Disclaimer
The contents of this blog or any other published by Talbots Law cannot be considered as legal advice. You should take no action without prior consultation with a qualified solicitor or legal professional. The contents of this blog refers to the process in England and Wales.
This blog was written by Sue Howard, Senior Associate & Solicitor specialising in Wills, Trusts and Estates.