In real estate,landlocked refers to aproperty that has no direct access to a public street,so the only way on or off the property is to cross land owned by someone else. Usually,a landlocked property gains street access through a legal permission called an easement.
People also ask
What is landlocked property?
Landlocked property is locked up, meaning it’s surrounded by other property. Owners of a landlocked property can obtain an easement, which grants the right to cross over neighboring land to access to the public road.
What does it mean when a property is locked?
Landlocked property is locked up, meaning it’s surrounded by other property. Landlocked in the context of real estate refers to a piece of property that is inaccessible via public thoroughfare, except through an adjacent lot. Landlocked property is locked up, meaning it’s surrounded by other property.
When was the word landlocked first used?
The first known use of landlocked was in 1622. Financial Definition of landlocked. Landlocked is a term describing a piece of property that has no direct access. Landlocked property is separated from major access ways including streets, canals and public roads.
Can you get a mortgage on a landlocked property?
However, obtaining a loan or mortgage for the property can be difficult since banks may not finance a landlocked property. The lack of access to the property for public services, such as medical and fire personnel, can make banks and prospective buyers pass on dealing with a landlocked property.