Easement

An easement is a right held by one person to use the land of another for a specific purpose, such as access to other property.  The easement runs with land, meaning that when the property is sold, the rights or limitations that the property posses will transfer to the new owner.  In talking about an easement you will hear the term ingress which means to enter, and egress which means to exit.  Easements must be in writing


An appurtenant easement involves two properties, owned by two different owners.

The two properties involved are called Dominant and servient.


The dominant property benefits from the easement while the servient is burdened by it.

Remember an easement is a right to cross one person’s property to get to the other.  Thus the servient property is the one being walked on, and the dominant one is being walked too.  The servient is serving the purpose of the dominant.


Easement in gross


An easement in gross involves only one property.  An example of this would be utility company who needs to cross the property but they are not trying to get to another.

In an easement in gross there is no dominant property.


It is a right which attaches to an individual person (or legal entity), not a piece of property. So, for example, if you have an easement in gross to cross your neighbor’s land on to your land, it means that the easement is for your own personal use, and may not be a right which would be included with your land should you choose to sell your land.


Implied easement


An implied easement is an unrecorded easement in favor of one owner by law when the easement is necessary, such as for light, air, or access to a land-locked parcel.


An easement by condemnation is created when the government creates an easement on a property.


Prescriptive easement


A prescriptive easement is created when a party uses the land of another for a statutory period of time.


The use of the land must be open, hostile, notorious, continuous and adverse to the owner


Termination of Easement


An easement can be terminated in a number of ways such as:

Merger of the two properties

Abandonment

Adverse Possession

Excessive use

Express release


If you are crossing somebody’s property and you do not have easements right you could be trespassing,


Encroachment


Encroachment is a form of trespass.  An encroachment is the physical intrusion of a structure or improvement on the land of another. Examples include a fence or driveway over the property line.  When an encroachment occurs you may be able to sue your neighbor for trespass.


An encroachment can be found by a survey.

Introduction

Bundle of Rights  

License   

Government Rights  

Police Power   

Eminent domain   

Taxation   

Escheat   

Real vs Personal Property

Annexation   

Appurtenances   

Fixtures   

Trade Fixture   

Emblements   

    OR-EE Rule   

Estates

Freehold Estate   

Fee simple absolute   

Fee simple Defeasible   

Life estate   

Less than freehold estate   

Estate for Years   

Periodic Tenancy   

Estate at will   

Estate in sufferance   

Types of Leases   

Gross lease   

Net lease   

Percentage lease   

Lease option   

Property management

Contracts

Essentials of a valid contract   

Capable parties  

Lawful object   

Consideration   

Offer and acceptance   

Types of Contracts   

Valid, Void & Voidable Contracts   

Implied contract   

Bilateral & Unilateral contacts   

Executed & Executory   

Option contract   

Land Contract   

Listings   

Types of Listings contracts   

Exclusive Listing   

Exclusive Authorization and right to sell Listing   

Exclusive Agency Listing   

Open Listing   

Net Listing   

Listings with an option   

Multiple listing service   

Agency   

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Attorney in fact   

Principal and Client   

Transaction broker   

Dual or limited agency   

Practice and disclosure   

Stigmatized property   

Puffing   

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Actual fraud   

Negative fraud   

Constructive fraud   

Negligence   

Federal Law   

Truth in Lending   

Fair Housing   

Steering   

Blockbusting   

Sherman antitrust laws   

Easement   

Easement in gross   

Implied easement   

Prescriptive easement   

Termination of Easement   

Encroachment   

Zoning

Property Transfer

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    Wills   

Title   

Title insurance   

Forms of ownership   

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Trust   

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Cluster housing   

Liens   

Appraisal   

Appraisal Principles   

Principle of Highest and Best Use   

Principle of Substitution   

Principle of Conformity   

Principle of Contribution   

Principle of change   

Market Value   

Steps in the appraisal   

Appraisal methodology   

Market data approach   

Capitalization (income) Approach   

Cap Rate   

Cost (replacement) approach   

Gross Rent Multipliers   

Depreciation   

Physical Deterioration   

Functional Obsolescence   

Economic Obsolescence   

Financing   

Lenders   

Primary mortgage   

FHA   

VA   

Types of Loans   

Loans clauses   

Investing   

Construction Terms   

Test Taking Tips