Setback Agreement
A setback agreement is a common legal document used in real estate transactions. It is an agreement between neighboring property owners that determines how close a structure can be built to a property line. The document specifies the distance that each property owner must maintain and ensures that the structures on both properties are built within these boundaries.
A setback agreement is an important legal document that protects the rights of both property owners. It ensures that both parties can use and enjoy their property without any interference from the other. It also helps prevent disputes and conflicts that can arise over property boundaries.
The main purpose of a setback agreement is to ensure that structures are built within a safe distance from property lines to prevent any potential harm to neighboring properties. This means that if one property owner wants to build a structure close to the property line, they must obtain the consent of the neighboring property owner and enter into a setback agreement.
Generally, the distance stated in the setback agreement will vary depending on the type of structure that is being built. For instance, the distance for a garage or shed might be closer than that for a two-story house or high-rise building.
The setback agreement is typically included in the property deed for future reference. If the property is sold, the setback agreement remains in effect and is binding on the new owner.
In conclusion, a setback agreement is a legal document that is critical in ensuring that property owners can use and enjoy their property without any interference from the other. It is necessary to consult a legal expert when drafting a setback agreement to ensure that it is legally binding and enforceable.