People who are purchasing a property must do their due diligence before they complete the purchase. One thing that some individuals may not remember is to check for easements, which are legal rights of another party to use a part of the property for a specific purpose.
An easement can change how a property owner can use their property, how it’s maintained and how it’s valued. These rights don’t provide any ownership of the property, but they convey rights to someone other than the owner.
How are easements granted?
There are three methods for granting easements – court orders, property owners or simple necessity. The terms of the easement must be documented in property deeds or plat maps. It’s critical that property owners and potential buyers review these documents to ensure they understand exactly how the easement will impact the property.
What can easements do?
Easements can be established to grant access to specific parcels of land that can’t be accessed without going through the property with the easement. They can also be established out of necessity, such as when a utility company needs to install power, water or gas lines on another person’s property.
Because easements can transfer from one property owner to the next, it’s important for anyone who’s purchasing the property to understand exactly what’s expected and allowed. It may be beneficial for individuals who are considering a property purchase to have someone familiar with real estate law review the documents before they make the purchase.