As you search for a home, you may have come across the term easement in a listing and wondered what it means. An easement is a legal arrangement by the owner of the property and a nonowner to use the property in some fashion. You may see this term used in listings where a home is located near a public recreational area. For example, the property may come with a walking easement to the nearby lake.
If there are any existing easements between the current seller and a neighbor, the seller’s attorney or the seller’s agent needs to advise the buyer. It’s important to know if easements exist and how they affect the purchase or usage of the home being bought. Easements often allow the use of a pathway between adjacent properties or a pathway to reach a common play area, yard or even a fish pond.
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