View random article

What Is an Easement Agreement?

An easement agreement is the right to use a property for a certain purpose without the requirements of ownerships. This usually refers to a land property wherein a landowner allows a particular individual to do something on his land or to prevent that certain individual to use his property in a particular way.

Two types of an easement agreement are the public easement or private easement. These two differs as to who will benefit from the agreement. The use of roads is an example of a public easement agreement. Usually public easements are obtained by eminent domain wherein a private individual is required by the government to allow the use of his land to provide access to public land through the private property. Public easements usually stays in the land this is also called the easement by necessity, even though there is a change of owner, the agreement is still active. In short, public easements benefit the land unlike the in the private easement wherein the agreement benefits the private individual. An easement in gross is a private easement where the agreement does not stay with the land but between the individuals.

Easements can be recognized from a handshake by neighbors to a more complicated transaction agreement by commercial parties. It needs to be completely outlined and clearly defined to avoid any misunderstandings to arise. When interested in buying or selling a property, it is important for the person to investigate if there is an easement on the property to avoid surprises after making the deal.

Featured in Finance