Kentucky 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.

Title: Understanding the Kentucky Agreement to Survey and Fix Location of Known Common Boundary Introduction: The Kentucky Agreement to Survey and Fix Location of Known Common Boundary is a legal document that plays a crucial role in defining boundaries between neighboring properties in the state of Kentucky, United States. This agreement ensures clarity and accuracy when determining the exact location of shared boundaries, preventing future disputes and promoting harmonious relationships between property owners. In this article, we will delve into the details of this agreement, its purpose, and explore any variants that may exist. Key Points: 1. Definition and Purpose: The Kentucky Agreement to Survey and Fix Location of Known Common Boundary is a contractual agreement between adjacent property owners to officially set and document the precise location of their shared boundary. Keywords: Kentucky Agreement, survey, fix location, common boundary. 2. Scope and Significance: This agreement holds immense importance as it brings certainty to property owners regarding property lines, thus reducing the likelihood of boundary disputes. It provides legal confirmation of the visible or known boundary line and ensures that both parties agree upon its accuracy. Keywords: certainty, property owners, boundary disputes. 3. Parties Involved: Typically, this agreement involves two parties — the neighboring property owners who share a common boundary. Both parties must mutually consent to the terms and conditions outlined in the agreement. Keywords: neighboring property owners, mutual consent. 4. Identifying Known Common Boundary: The Kentucky Agreement to Survey and Fix Location of Known Common Boundary focuses on identifying an existing boundary that is either visible on the ground or based on historical information that both parties recognize as the shared property line. Keywords: identifying, visible boundary, historical information. 5. Surveying the Boundary Line: Once the common boundary is identified, the agreement may necessitate the involvement of professional surveyors. These surveyors use accurate measurements, legal descriptions, and other relevant data to create an official survey depicting the agreed-upon boundary line. Keywords: professional surveyors, accurate measurements, legal descriptions. 6. Fixing the Boundary Line: The agreement fixes the location of the known common boundary line as determined by the survey. This ensures that both parties recognize, acknowledge, and agree to the specified boundary line indicated on the survey map. Keywords: fixing, recognized boundary line, survey map. Types of Kentucky Agreement to Survey and Fix Location of Known Common Boundary: 1. Kentucky Agreement to Survey and Fix Location of Known Common Boundary — Residential: Specifically designed for residential properties, this type of agreement caters to the needs and requirements of homeowners seeking to define and solidify their property lines in a neighborhood setting. 2. Kentucky Agreement to Survey and Fix Location of Known Common Boundary — Commercial: This variation is intended for commercial property owners. It addresses the unique considerations of businesses sharing common boundaries, such as ensuring precise demarcation of property lines for development, expansion, or shared access purposes. Conclusion: The Kentucky Agreement to Survey and Fix Location of Known Common Boundary is an essential legal document used to establish and document property boundaries in Kentucky. By providing clear mutual consent and fixing the boundary line through professional surveying, this agreement helps prevent future disputes while fostering amicable relationships between neighboring property owners.