Home Buying 101: What is an Easement and Why Should You Care?
If you’re in the market for a new home, you may have heard the term “easement” used in regards to your potential purchase. But what exactly is an easement and why should you care? Let’s break it down.
An easement is a right of use over someone else’s land that is granted to an individual or entity, such as a utility company or municipality. For example, if your neighbor wanted to access his property through your property, he would need to obtain an easement from you granting him this right of use. Similarly, if a utility company needs access to its pipes beneath your property, it will also need to secure an easement from you.
There are two types of easements—an affirmative easement and a negative easement—each with their own set of implications for the homeowner. An affirmative easement grants another party permission to do something on their land—for example, access their property through yours. A negative easement prohibits certain activities on the homeowner’s land—such as blocking someone else's view or prohibiting construction on one's land so as not to block another person's light or air flow. Easements can be permanent or temporary and may extend beyond the life of the homeowner depending on how long they are valid for. It’s important to note that both types of easements can affect how much enjoyment you get from your property so it pays off to look into them before purchasing a home.
When it comes time for closing day, make sure that all existing easements are disclosed in the title deed so that there are no surprises down the road. It also pays off to research any past issues with any current or prior owners regarding existing construction projects that might require access through an adjacent piece of land via an easement agreement. Knowing these facts ahead of time can help ensure that you don't run into any issues later on and help protect both parties involved.
Easements can be a tricky business but they are something every home buyer should know about before making a purchase decision. Make sure to do your due diligence by researching any existing agreements between neighbors concerning their respective properties and ensuring that all relevant information is disclosed in the title deed at closing day! This is something that Fleet Title Group can help you with. We will be there to make sure that no surprises await when you move into your new home!