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The definition of a Shared Well is a water well that provides water for home or irrigation use to two to several homes. In most cases, a shared water well that provides water to more than four homes would be categorized as a community well.
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.
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.
Private, or individual, water systems are composed of private ground water residential wells, cisterns, and larger private water systems that serve more than one residence. Private ground water wells usually supply water to an individual residence.
The definition of a Shared Well is a water well that provides water for home or irrigation use to two to several homes. In most cases, a shared water well that provides water to more than four homes would be categorized as a community well.
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.
Elements in a Shared Well Agreement o must be capable of providing at least three gallons per minute for existing wells and five gallons per minute for new construction over a continuous four-hour period.