Fencing Agreement in Transfer Affects Fee Simple: What You Need to Know
When it comes to real estate ownership, it is essential to understand the various types of property ownership and how they can be affected by different agreements. One such agreement is a fencing agreement, which can have a significant impact on the ownership of a property, particularly when it comes to fee simple ownership.
Fee Simple Ownership: An Overview
Fee simple ownership is the most common type of property ownership in the United States. It is a type of freehold ownership, where the owner has complete ownership of the land and any structures on it, including the right to sell, lease, or transfer the property. In other words, fee simple ownership gives the owner complete control over the property, subject to any legal restrictions or agreements.
Fencing Agreement: An Overview
A fencing agreement is a legal agreement between property owners that establishes the responsibilities for maintaining and repairing a shared fence. It is a common agreement in situations where two adjoining properties share a boundary with a fence.
The terms of a fencing agreement can vary, but it typically outlines who is responsible for maintaining the fence, how the cost of repairs will be shared, and what happens if one owner wants to make changes to the fence.
Fencing Agreement and Fee Simple Ownership
The terms of a fencing agreement can have a significant impact on fee simple ownership. When a property owner enters into a fencing agreement, they are essentially agreeing to share ownership and responsibility for the fence with their neighbor. This can create a sort of “easement” or a right to use a portion of the property.
For example, if a property owner agrees to maintain a section of a fence that is technically on their neighbor`s property, they may be creating an easement that gives them the right to access and maintain that portion of the property. Similarly, if a fencing agreement stipulates that one owner can make changes to the fence, they may be granting themselves an easement over the neighbor`s property.
In some cases, a fencing agreement can also restrict the rights of fee simple ownership. For example, if a fencing agreement stipulates that the fence must be a certain height or construction, this can limit the owner`s ability to make changes to their property.
Conclusion
In summary, a fencing agreement can have a significant impact on the ownership of a property, particularly when it comes to fee simple ownership. Property owners should carefully consider the terms of a fencing agreement before entering into one, as it can create easements or restrict their rights to their property. It is also essential to consult with a real estate attorney to ensure that any fencing agreement is legally binding and enforceable.