Home Buying in 80212>Question Details

Lori Shepard, Home Buyer in Sunny Side, Denver, CO

are party wall agreements assignable, or do they need to be signed and updated every time one party sells?

Asked by Lori Shepard, Sunny Side, Denver, CO Mon Jun 7, 2010

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5
Generally speaking the party wall agreement travels with the property meaning if it was properly executed when it was drawn up and then recorded with the county you get it whether you want it or not. It is a governing document to your ownership. If you are considering purchasing a property that has a party wall agreement you may want to consider having an attorney review it for you. The party wall is based on the idea of the wall that connects two properties. It can be very limited in scope and just talk about how you handle maintenance of the actual wall or it can be very broad and cover not only the wall but the roof, the yard, and water if the units only have one tap. It can also create rules like, "one side can not change the exterior of the home in anyway without the other side's written approval"- this can extend not only to paint color and trim- it can be construed to cover things like what color window treatments you have that show on the front of the property. A good party wall agreement not only spells out who does what it also spells out the legal remedies if one party or the other fails to meet their obligations and can allow on e homeowner to place a lien on the other's property. So be sure you know what you are signing up for if you purchase a property with a party wall agreement on it.
Good Luck with your new home purchase!
Carole
1 vote Thank Flag Link Mon Jun 7, 2010
It depends on the agreement. The language of the agreement will control. If there is no language, then it is assignable. There will however be a litmus test for enforceability. You will need an attorney to answer the question with any certainty in your circumstance.
1 vote Thank Flag Link Mon Jun 7, 2010
Party wall agreements typically go to the property and use the original one recorded with the county of record
0 votes Thank Flag Link Tue Jul 2, 2013
Lori,

My understanding is that party wall agreements become a part of the deed of the home and therefore would pass on from lone sale to the next without updating. I will be following theese answers to followup on that. It certainly is a question a title company could give you immediate and definitive answers on. I am sure that Kimberly's rep will be glad to help you with this question. All the best.

Robert McGuire ASR
Realtor/Consultant'
Your Castle Real Estate
http://www.theRobertMcGuire.com
Direct: 303-669-1246
0 votes Thank Flag Link Mon Jun 7, 2010
That would be a great qustion for Title
Please call Melanie at
American Title Services
720-836-6618
good luck
Kimberly Ryan
303-523-8333
0 votes Thank Flag Link Mon Jun 7, 2010
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