Who needs a Shared Well Water Agreement?
When you buy a house with a shared well, you have to make an agreement with the other user(s) of the well to protect the access to the water supply and spell out the costs and responsibilities involved in maintaining the system.
What is the Shared Well Water Agreement for?
This agreement is a legal document between two parties concerning the supply of water from the well and how to share the cost of supplying it. The supplying party shares the water from the well with the supplied party and all the expenses due to fixing the supplying system are divided between the parties. The Agreement can be used in any US state.
What documents must be accompanied by the Shared Well Water Agreement?
There is no need to attach any documents to the Agreement, but the Parties may include a scheme of the parcels.
When is the Shared Well Water Agreement due?
This agreement is made when the property with a shared well is sold to a new owner. The process of signing the agreement won’t take much time.
What information should be provided in the Shared Well Water Agreement?
This kind of Agreement must contain the following information:
- Name and address of the supplying party
- Name and address of the supplied party
- Address of the property with the well
- Legal description of the property (Parcel 1)
- Legal description of the Parcel 2
- Conditions of the agreement
- Right and obligations of the Parties
- The amount of annual fee for using the water from the well
- Term of payment
- Description of easements (if there any)
The Parties have to sign and date the Agreement.
This document must be certified by a notary public.
What do I do with the Agreement after its completion?
The signed Agreement is kept by the Parties or their attorneys.