One of the most common questions that home buyers in Irvine and across the United States want to know is what is a property easement?
A property easement gives a company or an individual the right to enter or use real property which you may own, without them possessing it.
Although the non-possessory nature of easements might seem confusing to some people the reality is that they do not allow the company or individual who owns the easement to occupy the property or land.
Property Easement Defined
One perfect example of a property easement is a utility easement. This could be an electrical box which is buried or placed someone on your property either in the front of back yard.
With a utility easement a company like Southern California Edison has the right to enter your property to work on their electrical box and you don’t have any rights to that part of the property since it must stay exactly the same while you own it.
Many Types of Easements
Besides electrical easements there are a variety of other easements including: water easements and gas easements.
Property easements are almost always utility based and will not affect the value of your property at all.
Right Of Way Easement
Another common example of an easement is a right of way easement where you have to grant another property owner the right of way to enter and go through your property.
Example: Let’s say that your next door neighbor owns a home which is set back from the street and has a long driveway.
The original builder of the home may have needed a right of way easement in order to build it, and the first owner of the home you are planning on buying may have been compensated for granting that builder access to their property.
Get Help with Understanding Easements
To learn more about easements and how they affect you, or to view Orange County homes for sale, contact Fred Sed & Associates today by calling us at (949) 272-0125.