A lot tie agreement, also known as a lot tie restriction, is a legally binding document that restricts the use and development of certain properties, known as lots, within a specific area. This agreement is often entered into by neighboring property owners, and is intended to ensure that the properties in the area remain compatible with one another.
Typically, a lot tie agreement is put in place to prevent the subdivision of a larger property into smaller lots, which could lead to overcrowding and a loss of privacy for neighboring properties. The agreement may also restrict the types of structures that can be built on each lot, as well as the size and height of those structures.
In addition to these restrictions, lot tie agreements may also contain provisions related to utilities, access, and easements. For example, the agreement may specify that each lot owner is responsible for maintaining their own utilities, or that all lot owners are allowed to use a shared access road. These provisions are intended to ensure that the properties in the area are developed and maintained in a way that is beneficial for all parties involved.
While lot tie agreements are typically voluntary, they can be enforced through legal action if necessary. This means that if a property owner violates the terms of the agreement, their neighbors may take legal action to force them to comply.
Overall, a lot tie agreement is a powerful tool that can help ensure that properties in a specific area are developed and maintained in a way that protects the interests of all parties involved. By restricting the use and development of certain properties, these agreements can help prevent overcrowding, loss of privacy, and other issues that can arise when neighboring properties are developed independently of one another.