Termination Of Shared Well Agreementcontribution.html - I would like to get a legal document that all owners can sign and i can record as an addendum to the original recorded agreement that i or new owners will not utilize or share the. We bought an investment property with a shared well. This well is on our property and is shared between our single family home and his six unit apartment building. Our agreement states that we must provide well water to the eight other homes for six months after water service is available. It also states that all must share in the cost of well. In summary, you could try to negotiate a termination of the agreement. But, if your neighbor is being unreasonable, then just go ahead with your plans. A shared well agreement is a contract for the drilling, maintenance and use of. At the time the well was being shared by 5 or 6 other people who typically are only part time residents. Much to my surprise and dismay when going through the paperwork i. Legal agreement is essential to protect your access to the water supply of a shared well and to spell out the costs and responsibilities involved in maintaining the system. A shared well most commonly involves adjacent homeowners who elect to share the water of a single private well. The water rights are outlined in a legal document called a shared well. Well share agreements drafted by our firm have a specific provision that explains how a person can surrender their ownership in the shared well. Terminating a shared well agreement involves following a series of legal procedures to ensure a smooth transition. Here are the steps you should consider: Termination of the agreement to share a well should not terminate a partyโs debts or obligations incurred on or before the termination date. The terminating party typically pays the cost to. Have a real estate attorney prepare and record an easement and well agreement. Since you indicate they.
I would like to get a legal document that all owners can sign and i can record as an addendum to the original recorded agreement that i or new owners will not utilize or share the. We bought an investment property with a shared well. This well is on our property and is shared between our single family home and his six unit apartment building. Our agreement states that we must provide well water to the eight other homes for six months after water service is available. It also states that all must share in the cost of well.