What Is An Easement In Real Estate & Why It’s Important | Boynton Beach Real Estate

what is an easement?

An easement is a legal designation for a third party to utilize another owner’s land for a stated specific purpose. There are several varieties of easements, some of which are created by law, while others are granted by the property owner themselves. Easements can have a significant effect on real estate in Boynton Beach, especially considering the west and northward expansion into once uncharted grounds. Learn more about easements in real estate, and what they may implicate when buying or selling your Boynton Beach home.

Here are the basics about easements, different types of easements, and their implication on your real estate in Boynton Beach.

What is an Easement?

An easement is a non-possessory interest in real estate that grants the easement holder the right to use the property in the ways specified by the easement itself. It is not a transfer of ownership, nor is it a right to access for non-specific purposes. It instead outlines the rules, regulations, and expectations of the easement holder. There are many types of easements, but they all share one thing in common: granting another party the use of land without unilateral access or transfer of ownership.

types of easements

Types of Easements

Several different types of easements can be granted. Some of the most common are:

Easement Appurtenant

This type of easement benefits one property while burdening another. For example, if your neighbor has an easement to use your driveway to access their property, that easement is appurtenant to their property.

Easement In Gross

This type of easement is granted to a specific individual or entity, regardless of who owns the property. For example, if a utility company has an easement to access your property to maintain power lines, that easement is in gross.

Prescriptive Easement

This type of easement is created through the continuous use of someone else's property. If someone uses your property openly and notoriously for a certain amount of time, they may be able to claim a prescriptive easement.

why easements are important

Why Easements Are Important

Easements can affect the value and use of a property. If a property has an easement that allows someone else to use a portion of the land, it could limit the owner's ability to use the property as they see fit. For instance, if a property owner grants an easement to a utility company for access and use to their land, they may not be able to build on that area for as long as the easement is active.

Easements can also affect the ability to sell a property. Think of an easement as not necessarily “baggage” or something “negative” but simply another wrinkle in the property that may affect your ability to use it. If a property has an easement, the new owner will have to abide by the terms of the easement, which could reduce their capacity to use the property as they see fit. Buyers may be less likely to purchase a property with an easement, which could affect the value of the property, as many are looking for a “clean slate” rather than taking something on with existing third-party contracts.

How Easements are Created

Easements can be created in several ways. Most of the time, easements are created by law or granted by the property owner via mutual agreement. When an easement is created, it is added to the property records to ensure transparency when showcasing the property to potential buyers. While not every buyer will see an active easement as a roadblock, prospects must know about the easement before getting serious about buying your property.

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