Buying a home is often one of the biggest investments that a person will make. This involves doing due diligence on the entire property, not just the home. While it’s common that people will focus on things like how the home inspection goes, they also need to determine if there are any issues with the land the home sits on.
One of the most common and least understood issues that home buyers come across is the presence of an easement. Understanding how easements work can prevent surprises after closing.
What’s an easement?
An easement is a legal right that allows a person to use a portion of someone else’s property for a specific purpose. This doesn’t convey ownership to the individual with usage rights, however.
Not all easements are created equally. Some of the most common easements that occur are utility easements. These allow utility companies to place, maintain, or repair lines or pipes on the property. The day-to-day impact of these is often minimal, but they can restrict where owners can add things like fences or pools to the property.
Another common type of easement is an access easement, which gives someone the right to cross a portion of the property to reach another area. Shared driveways and private roads are common examples of this type of easement. These easements require cooperation and clear boundaries if they’re going to work smoothly.
There are a lot of documents to review when purchasing a home. Working with someone who understands these may be beneficial so that the homebuyer can ensure that they understand exactly what they’re getting into when they purchase the property.