Posted by John Merchant on August 17, 2006 at 09:13:19:
While it sounds like you’re doing a very wise thing by working to get along with your neighbor, I’d sure advise you to talk to your lawyer so you do this right.
I’d advise a written agreement with the neighbor so as to avoid, as much as possible, any and all misunderstandings.
Lots of problems can arise from what you think you’re doing compared to what the neighbor thinks is happening, and best to get it all on paper early on.
Since you’re willing to convey some small piece of your property to the N, you’re going to want to use a deed and have spelled out exactly what you are selling, what the N is paying, how, etc.
Unless you or the N are surveyors, I’d think that you’d also want this small parcel surveyed so you both know exactly what’s being sold, etc…and I’m thinking the deed recorder isn’t going to want to record anything here unless it is spelled out very precisely in that deed.