Indiana Agreement to Survey and Fix Location of Known Common Boundary

• Category: Real Estate - Boundary Lines
• State: Multi-State
• Control #: US-1090BG
• Format: Word; Rich Text

Description

This agreement operates as an accord and satisfaction. Although the definition is variously stated from state to state, generally speaking, an "accord and satisfaction" is a method of discharging a contract or a claim or cause of action whereby the parties agree to give and accept something other than that which is due in satisfaction of the existing claim. For an accord and satisfaction, the "accord" is the agreement between the parties, and the "satisfaction" is its execution or performance. An accord and satisfaction results when: (i) the parties mutually intend to effect a settlement of an existing dispute by entering into a superseding agreement, and (ii) there is actual performance in accordance with the new agreement. Accord and satisfaction requires both components4 as without an agreement to discharge the obligation, there can be no accord, and without an accord, there can be no satisfaction.

Indiana Agreement to Survey and Fix Location of Known Common Boundary is a legal document that is used in the state of Indiana to resolve disputes or uncertainties regarding the exact location of a common boundary between two properties. This agreement is designed to facilitate a survey of the properties involved and establish a clear and permanent boundary line between them. The Indiana Agreement to Survey and Fix Location of Known Common Boundary is a binding contract signed by the owners of the properties. It outlines the terms and conditions under which the survey will be conducted and the boundary line established. It is important to note that this agreement is only applicable when both parties agree on the general location of the common boundary but seek a precise determination. The purpose of this agreement is to avoid potential conflicts or disagreements in the future by providing a definitive and agreed-upon boundary line. It ensures that both parties have a clear understanding of their respective property rights and responsibilities. There are different types of Indiana Agreement to Survey and Fix Location of Known Common Boundary, including: 1. Voluntary Agreement: This type of agreement is entered into willingly and voluntarily by both parties. It can be used when there is a dispute or uncertainty regarding the location of a common boundary, but both parties are willing to work together to resolve the issue amicably. 2. Court-Ordered Agreement: In some cases, a court may order the parties involved in a boundary dispute to enter into an agreement to survey and fix the location of the common boundary. This type of agreement is legally binding and enforceable by law. 3. Mediated Agreement: When parties are unable to reach a resolution on their own, they may opt for mediation. A mediator, who is a neutral third party, helps facilitate communication and negotiation between the parties. If a resolution is reached, a mediated agreement can be signed. 4. Arbitrated Agreement: In situations where mediation is unsuccessful, the parties may choose to submit their dispute to arbitration. An arbitrator, who acts as a judge, listens to both parties' arguments and makes a binding decision. If the arbitrator determines that a survey is necessary to establish the common boundary, an agreement to survey and fix the location can be included as part of the arbitration decision. In summary, an Indiana Agreement to Survey and Fix Location of Known Common Boundary is a legally binding document that aims to resolve disputes or uncertainties regarding the exact location of a common boundary between two properties in Indiana. Different types of these agreements include voluntary, court-ordered, mediated, and arbitrated agreements. It is important to consult with an attorney to ensure that the agreement meets all the legal requirements and protects the interests of both parties involved.