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.

Agreement With Mutual Releases

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Sample Template Preview

Agreement with mutual releases.

The foundation wall, now erected, shall be and remain forever the division line between the two properties and _________ and _________, his wife, release and quitclaim to _________, her heirs and assigns, any and all right and title which they now have to any portion of the land or of the foundation wall now constructed between the two properties, and _________ and _________, her husband, hereby release and quitclaim to _________, his heirs and assigns, any and all right, title or claim to the land lying south of the line of the foundation wall. _________ and _________, her husband, for the consideration previously mentioned, also grant and convey to _________, his heirs and assigns, the right to use the wall to be erected on the foundation wall between the two properties as a party wall with the right also to build into and on wall to a depth of _________ inches.