Agreement with mutual releases,
The Design of a Mutual Release Agreement
Buying a property in the real estate world is quite a costly affair and hence you have to be very careful about the property you own. Constructing proper boundaries around your area of land is of course very important in order to separate it from other people’s property. But, something which is even more important is to have the important documents for your property that clearly states you are the sole owner of the property.
Many times, when a piece of land, house or any other real estate property is divided among two or more people, often a dispute occurs regarding exactly what part of land belongs to whom. Such a dispute can occur between neighbours too who have adjoining properties. Thus, the best thing to do is to verify what part of property belongs to whom and build a foundation wall between the two properties. Also, both the parties should sign the agreement with mutual releases form that stands as a proof that both the concerned parties have mutually agreed to build the wall and agrees to their part of the property.
The design or structure of a mutual release agreement is very simple. It states that the foundation wall that is erected between the two properties will always remain there, no matter how many generations change. The name of the owner of both properties is also mentioned in the agreement and it is clearly stated that after them, the right to their property will go to their heirs.
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