Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Diversification definition

What does Diversification mean? In legal practice, diversification describes spreading investments or exposures across different assets, sectors, counterparties or strategies so that no single risk or asset materially affects overall outcomes. It is used to manage volatility and concentration risk. The term is descriptive rather than a standalone legal definition, but it is embedded in legislation and regulation. In England and Wales, trustees must have regard to the need for diversification under the Trustee Act 2000 (standard investment criteria). Northern Ireland has an equivalent duty under the Trustee Act (Northern Ireland) 2001. In Scotland, diversification forms part of the prudent investor approach recognised in...

Key issues when developing agricultural land in England and Wales: overage, sporting rights, greens/commons, rights of way, hedgerows, ecclesiastical liability, nuisance and environmental risk

Published by a LexisNexis Property expert

Practice notes

Various issues can surface when land ceases to be used for agriculture, whether through disposing of it entirely out of farming or by diversifying operations within an ongoing farming business.

Overage

Developers (and others) continue to purchase agricultural land while holding short- or long-term aspirations of securing planning permission for residential or commercial schemes. The difference in value with, compared to without, such consent is pronounced. Accordingly, when acting for the seller, you should evaluate including an overage (sometimes referred to as ‘Clawback’) arrangement in the sale contract, so the seller, or successors in title, can share in any uplift in the land’s value that arises once planning permission is granted. For further guidance, see Practice Note: Overage—advice to clients and Negotiating overage—acting for the seller—checklist.

Sporting rights

Agricultural land can be burdened by sporting rights (eg shooting and fishing) held by third parties, either expressly granted or acquired by long user...

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Web page updated on 22/05/2026

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