How well share agreements work

If you're looking at a property in the Enchanted Circle that gets its water from a shared well, you've probably run into the term "well share agreement." They're more common than you'd think, and they're nothing to be scared of. You just need to know what you're signing up for.

What a Well Share Agreement Actually Is

A well share agreement is exactly what it sounds like. Two or more owners share a single well. The well sits on one owner's parcel, and it provides water to every home that's part of the agreement. Everybody draws from the same source, and the agreement spells out how that works.

What a Good Agreement Covers

A solid agreement handles the stuff that matters before it becomes a problem. Who pays for pump repairs or a full replacement. Who covers the electricity to run the pump. And what the access easement to the well looks like, so the owners who don't sit on that parcel can still get to it. Nail those three things down and you've avoided most of the headaches.

It Runs With the Land

Here's the part that gives buyers peace of mind. These agreements get filed with the county, so they run with the land, not the person who currently owns the property. When you sell, the next owner is covered under the same terms. You're not leaving them to sort it out on their own.

Review It Before You Buy

If you're buying a property with a well share already in place, read the agreement before you commit. It's a quick review, and it tells you exactly what you're on the hook for. This is the kind of thing I check on right alongside water and utility questions.

Well share agreements aren't complicated once you know what to look for. Get the agreement in hand, understand who pays for what, and you'll know exactly where you stand.

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Have questions or want to learn more? Give us a call at 575-613-4243. We're happy to help.

Rob Swan | Qualifying Broker | Swan Realty Inc.