Reciprocal Easement Agreement (REA) (Two Parties) (Larger-Smaller Landowners)

Summary

This precedent is a Reciprocal Easement Agreement between two different land owners with different sizes lands (such as a shopping plaza or gas station/convenience store) whose land may require common access routes for vehicular and pedestrian traffic and joint access for maintenance of the land together with joint access to roads. The REA allows both lands to coexist harmoniously. This precedent contains practical guidance and drafting notes. A Reciprocal Easement Agreement ("REA") may take on many forms. Its primary use is to govern and spell out how two or more property owners who share common access to municipal or public roads and share parking spaces, access routes and other common things which are for the benefit of both properties. The intention is for the two or more individual owners to be able to access and use the other's lands in a way that creates a commercial area which operates as if it was under one unified ownership. Usually, shopping centres found on lands which may ...