Future construction
Author: Maria Clark
Published: November 27, 2011
What are the terms of a future construction
In a future construction the grantor is the person who owns the lot and the grantor in exchange for some consideration agrees to give the grantee a joint driveway which will be made of concrete runways and which will have a suitable entrance of concrete on the lot of one person and partly on the lot of the other person’s property and in such a way that an equal portion of both of the person’s lots and both the lots in equal portion will be used.
As per the future construction the cost will be borne equally by both the grantor and the grantee and not only will the cost be borne by both but the driveways also will be used jointly by both the grantor and grantee.
In this the grantor will grant or sell or even convey the perpetual easement for a part of the lot which makes it necessary to create the driveway. This easement is done with the lot of both the grantor as well as the grantee and this is binding for both the grantor as well as his or her heirs and those people who buy the property from them. This in turn is also legally binding for the grantee and their heirs as well as the tenants they employ or the people they sell the property to.
The driveway will be maintained, repaired and kept by both the grantor as well as the grantee in equal proportions and cost.
Where to download Future construction Template?
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Sample Template Preview
Future construction.
Grantor is the owner of lot _________ which is west of and contiguous to the above mentioned lot _________, and for the consideration stated above, grantor agrees that at any time desired by grantee, a joint driveway of concrete runways with a suitable concrete entrance will be constructed partly on lot _________ and partly on lot _________, and an equal portion of each of the lots to be used for this purpose, the cost to be borne equally by grantor and grantee, and the driveways to be for the joint use of the owners of lot _________ and of lot _________, and grantor hereby grants, sells and conveys a perpetual easement over a portion of lot _________ necessary for driveway purposes, which easement shall run with lot _________ and the title to the lot, and be binding on grantors and their heirs and any person who shall acquire title to lot _________.
