Maryland Acuerdo de pared medianera - Party Wall Agreement

• Category: Contratos - Medianera
• State: Multi-State
• Control #: US-00494BG
• Format: Word

Description

A party wall is a wall located on or at the division line between adjoining premises and used by adjoining landowners in the construction or maintenance of improvements on their respective properties. Generally, each owner of adjoining lands on which a party wall stands owns the part of the wall that stands on the owner's land and has an easement on the other part. Party wall interests are dependent on the terms of an agreement between the adjoining landowners. Unless the party wall agreement provides otherwise, the duration of the adjoining owners interests in the wall ordinarily continue as long as the wall stands. Party wall easements are terminated on the accidental destruction of the wall and, under some circumstances, on substantial changes in conditions of the neighborhood. The terms of the party wall agreement can provide for termination under other circumstances.



Since a party wall easement is an interest in land, it may be created by express deed drawn and executed with the same formalities as any other deed to real estate, or by a deed provision granting or reserving party wall interests. A contract, or provision in a contract, may also operate to create party wall interests. The following form is a general form establishing a party wall.

A Maryland Party Wall Agreement is a legal agreement made between two neighbors who share a common wall or boundary line between their properties. The purpose of this agreement is to establish the rights and responsibilities of each neighbor regarding the maintenance, repair, and use of the party wall. One type of Maryland Party Wall Agreement is the Bilateral Party Wall Agreement, which is made between adjoining property owners who both benefit from the shared wall. This agreement outlines the specific obligations and financial contributions of each party for the wall's upkeep. Another type is the Unilateral Party Wall Agreement, which is made when one property owner plans to undertake construction or renovation work that could directly affect the party wall. In this situation, the property owner seeking to carry out the work is responsible for notifying the adjoining property owner of their intentions and seeking their consent or agreement to share the costs. Regardless of the type, a Maryland Party Wall Agreement typically includes important information such as the exact location and dimensions of the party wall, the responsibilities for maintenance and repairs, the right to access the neighbor's property for repair purposes, rules for construction or demolition work that may affect the party wall, and provisions regarding the sharing of costs and expenses associated with the wall's upkeep. The agreement may also address dispute resolution mechanisms in case conflicts or disagreements arise between the neighbors concerning the party wall. It is recommended to consult with an experienced real estate attorney to draft or review a Maryland Party Wall Agreement to ensure compliance with local laws and protect the interests of both parties involved.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.