An easement is an agreement between a property owner and another party regarding the use of the property. Three common types of easements can be attached to a property. Others are also possible but they aren’t as common.
Some easements remain attached to the property even if it’s sold. Others are owner-specific so they don’t transfer over. A property owner who’s selling real estate should alert buyers of the presence of an easement on the property. This gives the potential buyer the necessary information so they can determine if the property is the one for them. Here are three common easements:
1. Private easement
A private easement is one that’s set between two parties so one party can use part of the other person’s land. For example, if one person needs to run piping through another person’s land to have water access, they would draft a private easement.
2. Utility easement
A utility easement is the most common type of easement. These are typically included on the property’s deed. They allow utility companies to run pipes, lines or other necessary utility components on an individual’s property. These may also be filed with local government offices.
3. Easement by necessity
An easement by necessity doesn’t have to be written down to be enforced. It’s an agreement that enables one person to access their property by traversing across another person’s property. A shared driveway that’s located only on one property is an easement by necessity.
People who are considering real estate purchases should find out about any easements that are associated with the property. This may impact their decision about the property since it may affect how they use it.