Real estate easements refer to the right one individual may have to use another person’s property for a specific purpose. Typically, these are granted for utilities; for instance, a municipal body may have an easement allowing them to run water or sewage pipes under privately owned land. Easements may also be created to allow one property owner to cross another’s land, perhaps to access a public road. This is known as a right-of-way easement. Easements can be both affirmative, allowing use of property, or negative, which prevents certain uses of property.
It’s important to remember that an easement is not equivalent to owning the land. Even though an easement allows usage, the title of the property remains with the original owner. Depending on the laws of a given area and the specifics of a particular easement, it may transfer with the property when sold, called a running easement, or it may expire. Easements can often impact property values – either positively or negatively – and therefore should be a consideration in any real estate transaction.
