Compromise Line Agreement And Quit Claim Deed
Compromise Line Agreement And Quit Claim Deed
This Compromise Line Agreement And Quit Claim Deed, dated [DATE], is executed by [YOUR NAME], hereinafter referred to as the "Grantor," in favor of [GRANTEE'S NAME], hereinafter referred to as the "Grantee," concerning the property located at [PROPERTY ADDRESS]. The purpose of this Deed is to transfer the Grantor's interest in the aforementioned property to the Grantee, under the terms and conditions outlined herein.
Grantor Name: [Your Name]
Address: [Your Company Address]
Grantee Name: [Grantee's Full Name]
Address: [Grantee's Full Address]
Recitals: WHEREAS, Grantor is the owner of certain real property located at [Grantor's Property Address], legally described as follows:
[Legal Description of Grantor's Property] (hereinafter referred to as the "Grantor Property");
WHEREAS, Grantee is the owner of certain real property located at [Grantee's Property Address], legally described as follows:
[Legal Description of Grantee's Property] (hereinafter referred to as the "Grantee Property");
WHEREAS, a dispute has arisen between the parties regarding the boundary line between the Grantor Property and the Grantee Property;
WHEREAS, the parties desire to resolve this dispute amicably by establishing a mutually agreed-upon boundary line (the "Compromise Line");
WHEREAS, the parties agree that the Compromise Line described herein shall be the true and correct boundary line between the Grantor Property and the Grantee Property;
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
I. Establishment of Compromise Line
The parties hereby agree and establish the Compromise Line as the true and correct boundary line between the Grantor Property and the Grantee Property. The Compromise Line is described as follows: [Detailed Description of the Compromise Line]
II. Quit Claim Deed
The Grantor, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, does hereby remise, release, and forever quitclaim unto the Grantee, all right, title, interest, and claim which the Grantor has in and to the property described as follows: [Legal Description of the property being quitclaimed]
III. Covenant of Non-Disturbance
The parties covenant and agree that neither party will disturb or dispute the boundary line established by this Agreement, and will not bring any action or proceeding to challenge the validity or enforceability of this Agreement or the boundary line described herein.
IV. Binding Effect
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns.
V. Governing Law
This Agreement shall be governed by and construed by the laws of the State of [State], without regard to its conflicts of law principles.
VI. Entire Agreement
This Agreement contains the entire understanding and agreement between the parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, oral or written, relating to such subject matter.
VII. Amendments
This Agreement may not be amended or modified except by a written instrument executed by both parties.
VIII. Severability
If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall be enforced to the fullest extent under law.
IN WITNESS WHEREOF, the parties hereto have executed this Compromise Line Agreement and Quit Claim Deed as of the day and year first above written.
[YOUR NAME]
[DATE SIGNED]
ACCEPTANCE
The Grantee acknowledges receipt of this Quitclaim Deed and accepts the conveyance of the properties subject thereto.
[GRANTEE'S NAME]
[DATE SIGNED]
NOTARY ACKNOWLEDGEMENT
State of [STATE]
County of [COUNTY]
On this [DATE], before me, the undersigned, a Notary Public in and for said County and State, personally appeared [Your Name] and [Grantee's Name], personally known to me (or proved to me based on satisfactory evidence) to be the persons whose names are subscribed to the within the instrument and acknowledged to me that they executed the same in their authorized capacities and that by their signatures on the instrument the persons, or the entity upon behalf of which the persons acted, executed the instrument.
Witness my hand and official seal.
[NOTARY PUBLIC NAME]
My Commission Expires:
(Notary Seal)
