Kentucky Shared Well Water Agreement
Description
How to fill out Shared Well Water Agreement?
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FAQ
A shared well agreement is a legal document that is used to create an agreement between two or more property owners who share access to a common well. This agreement outlines the rights and responsibilities of each party involved in the shared well.
Shared water system means a water system that serves or is intended to serve two living units or commercial structures.
Because shared wells serve two to four households, the rate of wear they experience will be much greater, resulting in the need for more frequent repairs and maintenance. Homeowners who share the benefits of the well should also share in the cost to fix it, maintain it, or replace it.
The Pros of a Shared Well Additionally, the ability to share the cost of Well or Well Pump Repair Expenses and other related expenses such as water testing can be quite attractive. Also, in some cases, a property may need to undergo significant modification just to allow drilling of a new well.
The well itself may have a lesser yield if pressurized storage is provided in an amount that will make 720 gallons of water available to each connected existing dwelling during a continuous four-hour period or 1,200 gallons of water available to each proposed dwelling during a continuous four-hour period.
There is the required maintenance and upgrades over time. At times of such change, clients become more vulnerable to cost increases and having to deal with individuals who were possibly not initially in the original agreement. Shared wells also have an expectation of access to water. Things can get complicated.
As long as the well has adequate water to service both properties and there is written agreement guaranteeing the water, then my experience is that it does not impact marketablity or value.
