Document Type: DOCX
Number of Pages: 4
A Shared Access Road Agreement is a legally binding easement instrument by which two or more neighbouring land-owners grant to each other the right to use a common private road (“the Shared Road”) for ingress and egress, and set out their mutual duties for its upkeep, cost-sharing and insurance. Key Components:1. Parties and Land Details2. Recitals/Background3. Grant of Easement4. Description of the Shared Road5. Permitted and Prohibited Uses6. Maintenance Obligations7. Cost-Sharing Arrangements8. Insurance and Indemnities9. Enforcement and Remedies10. Registration and Stamping11. Notices12. Governing Law and ExecutionPurpose:1. Prevents obstruction or dispute by guaranteeing each owner uninterrupted access over the Shared Road.2. Ensures that routine repairs are carried out promptly.3. Defines how each owner contributes to both maintenance works and insurance premiums.4. Manages Risk and Liability.5. Provide Enforcement Mechanisms.Order for an editable sample template here on Sheriaplex.
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