Declaration of Party Wall
Declaration of Party Wall Agreement
I. Purpose of Declaration:
This declaration serves as an official acknowledgment and agreement regarding the party wall located at [ADDRESS OF PARTY WALL], shared between [YOUR PROPERTY ADDRESS] and [NEIGHBORING PROPERTY ADDRESS].
II. Background Information:
The party wall in question is a common boundary wall that stands between [YOUR PROPERTY ADDRESS] and [NEIGHBORING PROPERTY ADDRESS]. As per the relevant property laws and regulations, both property owners are required to adhere to certain responsibilities and obligations concerning the maintenance, repair, and alterations to the party wall.
III. Agreement on Party Wall Matters:
Both parties hereby agree to the following terms regarding the party wall:
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[YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME] acknowledge their shared ownership of the party wall and agree to jointly bear the responsibility for its maintenance and repair.
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Any alterations or structural changes to the party wall shall be carried out only after obtaining the necessary approvals and permits from the local authorities and in accordance with applicable laws and regulations.
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[YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME] agree to provide each other with reasonable notice before undertaking any works that may affect the party wall, allowing for mutual agreement on the proposed modifications or repairs.
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In the event of any damage to the party wall resulting from the actions of either party, the responsible party shall bear the costs associated with the repair and restoration of the wall.
IV. Dispute Resolution Mechanism:
In the event of any disputes arising between [YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME] regarding the party wall, both parties agree to engage in good faith discussions and negotiations to resolve the issue amicably. If necessary, mediation or arbitration may be pursued to reach a mutually acceptable resolution.
V. Indemnification Clause:
[YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME] agree to indemnify and hold harmless each other from any claims, damages, or liabilities arising out of or related to the party wall, except in cases of negligence or willful misconduct.
VI. Governing Law and Jurisdiction:
This declaration shall be governed by and construed in accordance with the laws of [YOUR JURISDICTION]. Any disputes arising out of or in connection with this declaration shall be subject to the exclusive jurisdiction of the courts of [YOUR JURISDICTION].
VII. Conclusion
In summary, this declaration establishes the terms for the shared responsibility of maintaining the party wall between [YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME]. By agreeing to these terms, both parties ensure the wall's upkeep while fostering cooperation and mutual respect. This declaration confirms their commitment to fulfilling their obligations as property owners and promotes harmony within the community.
VIII. Signature
Signed and agreed to by the respective property owners on [DATE].
[SIGNATURE]
[YOUR PROPERTY OWNER NAME]
[YOUR PROPERTY ADDRESS]
[SIGNATURE]
Name: [NEIGHBORING PROPERTY OWNER NAME]
Address: [NEIGHBORING PROPERTY ADDRESS]
This declaration shall remain in effect and binding upon the successors, heirs, and assigns of [YOUR PROPERTY OWNER NAME] and [NEIGHBORING PROPERTY OWNER NAME].
