Contracts

Annexation Agreements

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You need expert legal advice if you own property that it outside a city or other municipality but is the subject of interest for annexation to the city.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

 

Assignment of Leases, Rents, and Profits as Collateral

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If you are seeking a loan and are the owner and holder of a lease, the lender may want an assignment of the lease, rents and profits as security for loaning you money as collateral.  The assignment is only used as security and only permits the lender to collect the payments in the event you do not pay back the loan

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Bills of Sale

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When you sell something other than land, such as a vehicle or machinery, both the seller and buyer should have a writing to verify that ownership has been transferred.  Typically, such items would include autos, farm machinery, firearms, and other personal property for which it would be important to prove ownership (or lack thereof).  The Bill of Sale should describe the item(s) with particularity, such as serial numbers, and state the date of the sale, sales price, and that the sale has been paid in full.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Business Asset Purchase and Sale

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When selling or purchasing a business, you need to prepare documents listing everything that is being transferred, including bank accounts, inventory, equipment, goodwill, client list, and obligations of the business as well.  If there is going to be financing to purchase the business, this should be part of the agreement.   Also, if the owner of the business is an entity other than an individual, such as an LLC or a corporation, the purchaser will require proof of authority to sell the business.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Business Personal Property Loan Security (Article 9)

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One purchasing a business may need to give a security interest in the assets of the business in order to obtain a loan.  Also, a business owner with machinery or equipment may want to apply for a loan and may need to give the lender a security interest in such collateral in order to get the loan.  The lender will prepare documents for the borrower to review and sign.  In the event of a later default in payment, the lender has remedies involving taking possession of the security (personal property)

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Cellphone Tower Leases

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If Verizon, Sprint or another cellphone company wants to construct a cellphone tower on your private property, you should have a lease prepared to allow the cellphone tower to be placed on your property.  The lease should include the specific location, length of time, the cost to the company for the privilege of using your property and the expense of maintenance being the company’s.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Contracts for the Sale and Lease of Goods (Article 2, 2A)

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Sometimes goods (tangible and moveable personal property other than money) are sold or leased between merchants (buyers and sellers of goods for profit) and the parties need a written contract to define their rights and responsibilities.  This includes goods that are paid for in periodic installments (installment sales) and the lease of any personal property involving merchants.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Deeds for interest in real property

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Sales of land require that the seller transfer his interest by a written, notarized deed.  The deed is recorded in the County so that everyone can discover who the legal owner of the property is.  This protects the public against scam sales.  The deed needs to contain a legal description sufficient to specifically identify the property, as well as the interest being transferred and what warranties, if any, attach to the transfer.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Development Agreements

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This is a voluntary contract between a local jurisdiction and a person who owns or controls property within the jurisdiction, detailing the obligations of both parties and specifying the standards and conditions that will govern the development of the property.  Before constructing any building or addition on your property, you need to check with the local jurisdiction to make sure you comply with all local laws.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Easements: Vehicle Access, Utility, or Conservation

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Click here to get a real estate contract or document drafted.Vehicle Access Easement

A Vehicle Access Easement is an interest in land owned by another person, consisting of the right to use or control the land, or an area above or below it, for a specified limited purpose (such as to cross it for access to a public road).  It needs to be in writing, signed by the owner, and specifically identified as to location.  Also, the parties responsible for maintenance of the easement should be stated, and the easement needs to be recorded.  Without such legal right, the owner of the easement would be trespassing every time he traveled across the landowner’s property.

Utility Easements

Utility easements are areas of a property that were defined for use by utility companies when the property was first put on a plat. They are designated for overhead electric, telephone and television lines and underground electric, water, sewer, telephone, and cable lines. Such easements also must be in writing and recorded so that the public is given notice what utilities have rights in the property.

Conservation Easement

This is an agreement forever binding a parcel of land in a way that preserves a native plant or animal, a natural or physical feature of the land, or some aspect of the land that has some historical, scientific or cultural significance.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Encroachment Agreements

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A document can be prepared which covers the situation where one owner’s structure is encroaching on an adjacent owner’s property.  The encroachment agreement provides for the allowance of the encroachment to remain so that it does not have to be removed, or new boundary lines need to be drawn.  Each owner keeps his property even though one person’s structure encroaches on the other (such as a barn or shed).

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Farm, Hunting, Land Licenses

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If you own a farm or other acreage and want to allow someone to enter your property for a for the purpose of hunting, you should have a written agreement permitting them to do so.  The agreement would specify such items as the price, the dates and times the person is permitted to be on the property, and what you can do if they come when they are not supposed to be there.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Ground and Building Leases

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Leases of up to 99 years are created to give a non-owner the right to use and possess land and buildings for a specific period of time and for an agreed upon price.  There are many other terms, such as insurance, ability to sublease, etc., that should also be addressed in the writing.  Leases can be residential (single family residence, duplex, condo, apartment) or commercial (apartment building, farm, shopping mall).

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

HOA CC&Rs, Bylaws, and Vendor contracts

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HOA By-Laws

In planned unit developments and other subdivisions, there are common areas that the owners share.  As a result, a Homeowners’ Association will need documents for all owners to be required to follow.  Homeowners’ Association By-Laws deal with the operation of the non-profit HOA.  They include regular and special meetings of the Association, voting for Board Members, Board Member meetings, amending their rules, and maintaining the character of the area.

HOA CC&R’s

In planned unit developments and other subdivisions, there are common areas that the owners share.  As a result, a Homeowners’ Association will need documents for all owners to be required to follow.  The Covenants, Conditions, and Restrictions limit the ability of the owners to use their property so as to preserve the property value of all owners in the HOA.

HOA Vendor Contracts

If grass needs to be mowed, the community pool needs to be cleaned, or snow needs to be removed, written Vendor Contracts need to be prepared to properly maintain the property.   This may also include street lighting, legal and accountant fees, etc.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Judgments

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Judgments cover a wide variety of issues.  A quiet title judgment will determine the rights of conflicting claims of persons to land.  An eviction will order a person in possession of land to vacate the premises.  A money judgment from the Court is an order that someone owes money to the other party.  If a money judgment is recorded, it becomes a lien on all property of the debtor in the county of recordation.  All legal disputes that are not settled by agreement are resolved in Court by the Court’s Judgment.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Land Purchase and Sale

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Anyone selling or buying land needs a written agreement covering a multitude of issues, including purchase price, loan terms, date of completion of purchase/sale, escrow, title policy, certain contingencies, penalties for backing out of the agreement, etc. In Idaho agreements to sell or buy land are usually unenforceable without a writing.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Lease Amendments, Modifications or Assignments

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Many leases need to be changed from time to time, regarding such things as payment, scope of property, terms, and dates.  Once a lease expires the parties need to have a meeting of the minds what happens at that time. Any changes in the terms of a lease should be in writing and signed by all parties.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Leases: Commercial or Residential

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If you lease property, the writing should specify the term of the lease; any notice requirements in the event of a default in payment; amount of payment; address of the property; if there is an option to purchase or right of first refusal in the event of a sale; and remedies for any breach of the lease agreement.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Letters of Intent For Real Estate (Pre-Negotiation Agreement)

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A Letter of Intent for real estate, also often referred to as a Pre-Negotiation Agreement, is a written statement that details the preliminary understanding of people who plan to enter into a real estate contract.

What Is A Letter Of Intent For Real Estate
Letters of Intent for real estate can be the first step toward defining a formal, final agreement. Buyers and sellers sometimes prefer to start with a letter of intent, because they’re quicker, less complicated, and less expensive than a full-on Purchase And Sales Agreement.

It’s important to note, however, that Letters of Intent – or certain provisions within them – might or might not be legally binding, depending on the specific wording in the document.

Provisions In A Letter Of Intent For Real Estate
Letters of Intent for real estate often include:

  • property description
  • purchase price
  • payment terms and deposits
  • deadlines for due diligence, inspections, and obtaining financing
  • contingencies
  • assurances that there’s a mutual understanding between the buyer and seller
  • a good faith clause
  • a confidentiality clause
  • an exclusivity clause

Types Of Real Estate
A Letter of Intent can be used for the purchase or sale of any type of real estate, including:

  • single-family homes
  • condos, townhomes, and duplexes
  • vacant land
  • commercial real estate
  • commercial leases

We’d be happy to review or draft a Letter of Intent for you and review or draft your contract.

See also: Purchase and Sales Agreements For Real Estate (Residential and Commercial)

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Name Licensing

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If you want to start up a business, like Starbuck’s or Pier One, you will need to obtain a license of the name, if it is already in use.  Alternatively, if you have a business and want someone else to use your business name, you can license them to do so.  The agreement should protect you from liability for the acts of the other person.  If you are going to operate a business under an assumed name you need to notify the Secretary of State that you will be “Doing Business As” the name you choose.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Office Building Sales-Purchase Agreements

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This is similar to a Land Purchase and Sale. You need a written agreement covering a multitude of issues, including purchase price, loan terms, date of completion of purchase/sale, escrow, title policy, certain contingencies, penalties for backing out of the agreement, etc. Also, if you are not purchasing the land, you need to address the issue of use of the land.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Operating Agreements for LLCs and other Corporations

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A Limited Liability Company (LLC) is similar to a Corporation except that it is taxed differently.  An LLC needs an Operating Agreement that sets out the financial and managerial rights of the company’s members.  Such agreement includes, among other things, voting rights, buy-sell agreements for a shareholder leaving the LLC, and termination of the LLC.  The Bylaws of the Corporation are similar to the Operating Agreement of an LLC.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Promissory Notes and Deeds of Trust

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If you’re borrowing money to buy a piece of real estate (house, condo, vacant land, commercial property, etc.), the lender will typically require that you sign both a Promissory Note and a Deed of Trust.

What Is A Promissory Note For Real Estate
A Promissory Note for real estate, simply put, is the promise that you’ll pay back the loan. The Promissory note typically includes the amount of the real estate loan, the interest rate on the loan, the term of the loan (e.g. 10-year, 30-year), the payment schedule (payment amounts and the required number of payments), and the collateral for the Promissory Note (which is the real estate that you’re buying).

What Is A Deed Of Trust For Real Estate
A Deed Of Trust for real estate is the document that places a lien on the property, on the behalf of the lender. The lender uses the Deed of Trust as security that you’ll repay the loan, and this document gets recorded with the County in which the property’s located

What’s Included In A Deed Of Trust
A Deed of Trust will typically include:

  • a legal description of the real estate property
  • the loan amount
  • the beginning and ending date (maturity date) of the loan
  • a reference to the Promissory Note you signed for the property
  • details about what the lender can do in case you default on the loan by not meeting the terms in the Promissory Note

Types Of Financing For Real Estate
Lenders for real estate can include:

  • mortgage companies
  • banks
  • commercial lenders
  • private lenders
  • family or friends

Generally speaking, no matter what type of real estate loan you get, you’ll be required to sign a Promissory Note and Deed Of Trust.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Purchase and Sale Agreements: Residential or Commercial

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A Purchase and Sales Agreement, also often referred to as a real estate contract, is the initial contract between a buyer and seller. The agreement details the terms that the buyer and seller have agreed to.

What’s In A Purchase And Sales Agreement For Real Estate
A Purchase and Sales Agreement fore real estate typically includes:

  • buyer and seller information
  • property details/description
  • sales price of the real estate
  • earnest money
  • down payment
  • dates for obtaining financing (and the terms of financing)
  • inspection and objection dates
  • appraisal and objection dates
  • list of items that are included or excluded as part of the sale
  • closing costs (and who will pay them)
  • estimated closing date
  • date the buyer can take possession
  • conditions (if any) that allow the buyer or seller to terminate the contract
  • conditions or contingencies (if any) that the buyer or seller must meet in order for the sale to be completed
  • expiration date for the Purchase and Sales Agreement

Purchase And Sales Agreements For Real Estate Are Legally Binding
As soon as all parties involved have signed the Purchase and Sales Agreement, it is generally legally binding. If the buyer tries to get out of the Purchase and Sales Agreement, the seller might have the right to keep the buyer’s earnest money and/or enforce the agreement. If the seller tries to get out of the Purchase and Sales Agreement, the buyer might have the right to force the sale of the property and/or recover damages.

We Can Draft Or Review A Purchase And Sales Agreement For Real Estate
Real estate contracts for the sale or purchase of a piece of property might seem simple, but they’re actually pretty complicated! Whether you’re the buyer or seller of a piece of real estate, we’d be happy to draft a Purchase and Sales Agreement for you, or review one.

See also: Letters Of Intent (Purchase And Sales Agreements)

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Record of Surveys And Boundary Line Adjustments

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Surveys play an important role in real estate – they’re a record of a property’s boundaries and where one property ends and another begins.

Record Of Surveys – Review and Filing
A Record of Survey is an official map (18 inches x 26 inches) that is reviewed by the County Surveyor’s Office and then recorded with the County Recorder’s Office. The map depicts the survey that was made on the ground and delineates the boundaries (lines) described on the deed for the property.

Boundary Lines
Boundary lines on a survey depict the line where two properties meet. Sometimes, two property owners will agree to adjust the boundaries between two contiguous lots, and they can legally accomplish this by filing a Record of Survey that includes a Boundary Line Adjustment. Typically, this Boundary Line Adjustment can be completed without signing a separate deed.

Boundary Line Adjustments
Boundary Line Adjustments generally only cover a minor transfer of land, and are commonly used to correct a property line or a setback encroachment (for a fence, walkway, driveway, etc).

Boundary Line Disputes
Some of the most common types of boundary line disputes, include:

We Can Draft Or Review A Boundary Line Agreement Or Easement
If you have a boundary line dispute with your neighbor or need to modify a boundary line, we can draft a contract that legally resolves the dispute and defines the new boundaries or easement agreement. After you and your neighbor have signed the contract, the next step would be to hire a land surveyor to document the new, agreed-upon boundary lines, and then have the Record of Survey reviewed by the County Surveyor’s Office and recorded with the County Recorder’s office.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Road Agreements For Real Estate

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Road agreements dictate where private roads will be located and who will maintain the roads. Simply put, private roads are roads that aren’t maintained by the city, county, state, or any other government entity. Instead, they’re owned and maintained by individuals, organizations, or companies. Road agreements can be between two neighbors, a group of property owners, or large communities (such as homeowners associations).

Road Agreements For Private Roads
In rural areas of Idaho, Montana, and Washington, road agreements are fairly common. If you’re considering buying a property, you need to know whether you’ll have to access your property via a private road. If so, check to see if a road agreement is in place, what provisions are included in the agreement, and whether the agreement is being enforced.

Maintenance And Repairs On Private Roads
In general, you’ll want to know who’s paying for the repairs and maintenance on the road (including what your portion of the costs will be), who has access to the road, and the general state of the road. Is the road easy to drive on, or is it washed out and/or virtually impassable? To be considered “passable,” a road needs to be passable for passenger cars, school buses, and emergency vehicles.

Common issues that can crop up with shared roads include: who has access to the road; who maintains the road; who pays for the maintenance and repairs of the road; are people adhering to the road agreement; and is there a reserve account for the road costs.

It’s important to note that most mortgage companies and lenders will require a road maintenance agreement (recorded with the county), before they’ll lend money for a property that’s located on a private road.

Easements For Roads – Between Two Neighbors
On a related note, easements for shared roads are fairly common between two neighbors, particularly when one lot can only be accessed by crossing over another lot. If you’re considering buying a piece of property that grants an easement for a road, or has been granted an easement, it’s important to know exactly what that access easement entails. Don’t assume that you’ll be protected by title insurance – we can take a look at title insurance exceptions and perform legal due diligence on your prospective purchase, so that you know exactly what you’re getting into.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Sale of Development Rights Agreements

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Developer’s rights, similar to mineral rights or water rights, represent part of the value of a piece of property. The right to develop a property generally makes that property more valuable. So, when owners agree to NOT develop a property, they’re typically compensated for the loss of their development rights. This agreement is known as a “development rights” agreement.

Purchase Of Development Rights
Typically, the sale or purchase of development rights is used to permanently protect a productive, sensitive, or aesthetic landscape – while allowing the owner of the property to still own it and manage it. Local governments will often purchase development rights in order to preserve farmland, forests, view corridors, or other types of open space, while still leaving the land in private ownership.

Transferable Development Rights
Transferable development rights are another mechanism for compensating owners for not being able to develop their own properties. A local government might want to preserve certain areas (prohibiting property owners from developing the land) and will give property owners development rights somewhere else – as compensation for the rights they’ve given up.

Valuing Development Rights
When it comes to valuing development rights, on the most basic level, they’re appraised at the difference between what the land is worth WITH the rights and WITHOUT the rights. As an example, if you own agricultural land that could be sold for $20,000 per acre for home sites, but is only worth $5,000 per acre if it were restricted to agricultural use only by an easement, the development rights would be worth $15,000 per acre.

Have A Real Estate Attorney Draft Or Review Your Development Rights Agreement
As with the transfer of any rights associated with a property, it’s critical that the rights are transferred properly – through a well-written, enforceable development rights agreement. If you’re considering selling the development rights to a property you own, we can draft a development rights agreement for you! And if you’re considering purchasing a property that has an easement restricting its development rights, we can review that development rights agreement for you!

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Shared Well And Septic Agreements

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Shared well and septic agreements are fairly common in rural parts of Idaho, Washington, and Montana.

Well And Septic Systems In Rural Areas
When municipal water and sewage services aren’t available, homeowners are forced to turn to wells to access groundwater and septic systems to treat wastewater. Often, these well and septic systems are used by more than one lot (owner). If this is the case, there should be a well and/or septic agreement in place that will remain valid, even when ownership of one or more of the lots is transferred.

Agreement In Place For Shared Well And Septic
If you’re considering buying a property that has a shared well and septic agreement, you’ll want to make sure that there’s a shared agreement in place. If not, get one BEFORE you purchase the property. The well and septic agreement should cover provisions that address the cost of operating and maintaining the well and septic system – and who will pay for what.

You’ll also want to check to see that easements are recorded on the deed that allow you access to, as well as use of the well and septic system.

Due Diligence When Buying A Property With Shared Well And Septic
To perform further due diligence when buying a property with a shared well and septic system, check the condition, maintenance history (and even construction) of the well and septic system. You can ask the seller’s real estate agent to provide a well log. You can also hire a licensed well contractor to perform a well inspection. Under federal guidelines for mortgage insurance, there are minimum standards (for water quality and minimum flow) that shared wells have to meet.

Review Or Drafting Of A Shared Well And Septic Agreement
If you’re looking to buy a property that has a shared well and septic system, we’d be happy to review the agreement. Or, if you need a shared well and septic agreement written for a property that you own or are considering buying, we’d be happy to do that, too.

A shared well and septic agreement will typically cover a range of issues, including:

  • cost sharing for power, repairs, tests, inspections, disinfections, and other items
  • repair of leaks
  • permission for water sampling
  • corrective measures if there’s a water quality issue
  • ongoing water service to all parties who are part of the agreement
  • prohibition of certain types of water usage (such as filling a swimming pool or watering a lawn)
  • stipulations as to whether other lots/residences can connect to the system
  • easements for all elements of the well and septic system

As you can see, something that might seem simple can quickly become complicated if there isn’t a written well and septic agreement in place, or if some of the terms or wording in the agreement are vague or open to interpretation. Don’t take any chances – let us review or draft a well and septic agreement for you!

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.

Warranty Deeds And Quitclaim Deeds

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In real estate, there are two primary types of deeds: warranty deeds and quitclaim deeds.

Warranty Deeds For Real Estate
Warranty deeds are legal documents that are used to transfer ownership from sellers to buyers. A warranty deed is normally required when you sell a piece of real estate – whether it’s a house, condo, townhome, commercial property, vacant land, or any other type of real estate. The warranty deed needs to be signed, notarized and recorded. When you sign a warranty deed, you are warranting that you are conveying good title to the purchaser of your property, without any outstanding title issues (free and clear from all encumbrances, except as stated).

Quitclaim Deeds For Real Estate
Quitclaim deeds are used to transfer someone’s interest in a piece of real estate, but they carry no warranties. Because there aren’t any warranties, of any kind, associated with quitclaim deeds, grantees really have no assurances of what they’re getting.

Quitclaim deeds are used as a waiver or release of rights, so they’re often used to release or terminate an easement. Another common use is when two people are applying for a loan and one has bad credit, a quitclaim deed might be used to take the person with bad credit off the title of the property, so that the person with better credit can obtain a loan. Quitclaim deeds are also often used to transfer the title from one spouse to the other spouse, or into the names of both spouses.  Typically, no money is paid when someone signs a quitclaim deed.

Before you buy or sell real estate using a warranty deed or a quitclaim deed, you should consult an experienced, local real estate attorney so that you know exactly what rights you do and don’t have.

At Timely Contract, we have local real estate attorneys who have experience throughout Idaho, including: Boise, Post Falls, Coeur d’Alene, Lewiston, Moscow, and Sandpoint.

We also have local real estate attorneys who have experience throughout Montana, including: Missoula, Billings, Bozeman, and Kalispell.

And we have local real estate attorneys who have experience throughout Washington, including: Spokane, Spokane Valley, Liberty Lake, Medical Lake, and Cheney.