what is easement in real estate
Best answer
An easement is an agreement between two parties,where one is granted land access in exchange for a fee.The most common types of easements are utility easements. An example would be a telephone or power company running lines through a property for which they’ve been granted an easement.Another easement seen often is an easement of necessity. …
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What is the purpose of an easement on a property?
An easement gives a person the legal right to go through another person land, as long as the usage is consistent with the specified easement restrictions. Although an easement grants a possessory interest in the land for a specific purpose, the landowner retains the title to the property.
What is the difference between a title and an easement?
If a person is granted by an easement, he or she can use the property but the title of the property remains with the real property owner. Easements are typically made using a written document.
What are common types of easements?
Common easements include public utilities, power lines, and cable TV (though these are often underground). As easements are associated with real property, they are governed by real property law.
How do I know if I have an easement on my property?
A real estate attorney can help you confirm what easements exist on the property. When you do come across confirmation of an easement, make sure you take note of the expiration date of the easement, if there is one. That way, you檒l have a clear picture of how easements will affect you while you own the property.