Easement
Real estateGlossary term
Definition
A legal right to use another person's land for a specific purpose without owning it. Common examples include utility company access, shared driveways, and public pathways. Easements run with the land and transfer to new owners upon sale.
Related terms
- DeedA legal document that transfers ownership of real property from one party to another. Different types include warranty deeds (full title guarantee), quitclaim deeds (no guarantee), and special warranty deeds (limited guarantee). Recorded with the local government.
- ZoningLocal government regulations that determine how land can be used in specific areas, such as residential, commercial, industrial, or mixed-use. Zoning laws affect property values and what you can build or operate on your land. Variances may be granted for exceptions.
- Property ManagementThe operation, oversight, and maintenance of real estate by a third party on behalf of the owner. Property managers handle tenant screening, rent collection, maintenance, and legal compliance, typically charging 8-12% of monthly rental income.
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