WHAT EXACTLY IS A RECIPROCAL EASEMENT AGREEMENT?
A reciprocal easement agreement or, alternatively, a declaration of covenants, conditions and restrictions, is generally used when an owner of a large piece of real estate plans on developing all or substantial portions of it and transfers ownership of portions of the property to different individuals or entities. By preparing and recording such an instrument prior to the property's development or conveyance, the original owner is able to maintain control over the subsequent development of the land. These instruments are commonly used in the development of shopping center parcels or other large commercial properties where the original owner's goal is to have the property developed within a certain scheme.
Common provisions include cross-easements so that each of the separately owned parcels can be utilized by the other owners. Also, typically included are clauses for parking, as well as restrictions on the size, height and distribution of the improvements and on the permitted uses of the land.
Lastly, these instruments also govern the use and maintenance of the common areas since these areas will not be under the control of any single owner but are shared in common.
BACKGROUND OF AUTHOR
Mr. Petrony graduated with a Bachelor of Arts degree, summa cum laude, from Youngstown State University. Subsequently, he obtained a law degree from the Ohio State University College of Law.
Mr. Petrony practices law at The Law Offices of John F. Petrony, LLC in Poland, Ohio. He maintains a transactional practice with a primary emphasis in the fields of business law and real estate law. The business law portion of his practice is comprised, in large part, of the following areas:
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