I'm refinancing a home with a shared driveway, The bank requires a shared driveway agreement. Do you have a simple version I can edit? That you'd be willing to share?
I just sent you something to the email in your signature, let me know if you need something different and I can see what I have.
Jon, sorry, I didn't save copies over the years of those I've written.
You may find a "go by" at the courthouse, any neighboring properties with the same issue?
Did you ask the title company?
Your first order of business is to identify the location of the driveway in terms of the legal description. Saying "our driveway" won't cut it;
The parties, named owners, each having the powers to grant, sell, convey and set over, each to the other, those rights and conveyances of easements being granted, for the use and maintenance of that certain common driveway described as follows:
....that existing driveway beginning at the southeast corner of lot 16, cherry hills subdivision according to the recorded plat thereof located in Longhorn County, Texas thence running northwesterly parallel to said westerly lot line 65 feet, thence easterly 24 feet to that point 16 feet easterly of the west lot line of Lot 14 of cherry hills subdivision according to the recorded plat thereof and 152' south of the said northwest corner of Lot 14, thence southerly parallel to said lot line 64 feet to the right-of-way, thence westerly to the point of beginning, all laying in within the legal descriptions of said parcels, containing 1,421 square feet, M/L, in said County.
The parties hereto shall execute, a Grant Deed For Easement each to the other, describing the easements, with reference to this Agreement as to the rights and responsibilities of the grantees to run with title, forever. (Ask the title company what grant deed or easement instrument is used there)
Explain the rights of use, unrestricted or get smarter and limit vehicle weight so your neighbor doesn't park a loaded semi on the driveway. Restrictions can't restrict times, but can stipulate that the driveway is to be assessable at all times for use.
Describe how maintenance expenses are to be shared and how determinations of maintenance shall be agreed to and if not agreeable, how a determination for repairs shall be made.
Driveway to be maintained in serviceable condition in like manner of neighboring properties adjacent to the subject properties.....
In the event any expense is estimated to be greater than $xxx, the owners may seek bids for repairs by a reputable licensed contractor for work required, if the owners do not agree as to the costs or scope of work, then state how you'll arrive at an agreement. Code requirement, appraiser's opinion, etc.
Either party may give notice of needed repairs to the other by certified or registered mail, return receipt requested stating the necessary repairs and giving 30 days notice to cure deficiencies described. If after 30 days the notified party fails or refuses to act, the party giving notice shall then have the authority to cure the deficiency and contract for repairs necessary.
Emergency repairs required to provide ingress and egress may be accomplished by either party only to the extent to allow such immediate access, not bringing the improvements to and standard beyond that required for temporary use. No notice shall be required to make or cause to be made any emergency improvement.
As consideration of granting easements and the benefits each of the parties acknowledge as received, the parties agree to hold harmless and indemnify, each to the other, for any loss, cost, damage, expense or judgment, arising from or out of, either party's failure to maintain the roadway subject of this agreement as required or any refusal to act or in keeping with any covenants herein or under any easements granted. Either party may pay costs required in keeping with the intent of this agreement and be entitled to half such disbursements as well as costs of collection and it is further agreed that the prevailing party shall be entitled to costs of court arising out of any order by any court of proper jurisdiction.
The parties agree that neither party shall allow any expense to become a lien upon the property owned by the other and that either party may pay costs of liens and be indemnified as provided herein. If either party fails to pay as demanded or to indemnify the other of any loss, the party owed shall then after 30 days. have the right to secure such indebtedness by a lien upon the owned property subject hereof until such is fully paid.
Then you wind it up, you're granting to run with title, to grantees, sureties, guarantors, heirs and assigns, with acknowledgements, execute it, file it, get a recorded copy and turn it in to the lender.
I'm not an attorney, this is off my head, as to the points lenders want to see, before you start in, ask the lender if there are any other requirements, they may want granting authority by assignments to be specific to the deed of trust.
Actually, now that you get an idea of what brain damage might be involve, why not get with the neighbor, explain he is in the same boat if he or his heirs ever want to sell or refinance his home, split the costs and go see an attorney who can write this type of stuff up properly. I was bored.
Buying a property with shared amenities can be a real pain! Good luck :)
Bill Gulley, General Real Estate Academy | https://generalrealestateacademy.com
Thanks Matt and Bill. The neighbor is agreeable to anything reasonable and has shared the driveway with me for several years. I'm looking for simplicity now,
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