What is an Easement and Why is This Important to You?
Many times, when I am talking to my clients and we are reviewing the title commitment the property may have easements that run along the side or across the property. Even though they are there most people do not ask the question as to how these effects the usage of the property they are looking to purchase.
First, an easement is a right to cross or otherwise use someone else’s property. This could be the right of the neighbor to cross your land to get to theirs, a utility easement such as a pipeline or electrical power line, or water or sewer lines. If there is an easement on your current property or one that you plan on purchasing, you need to understand all the details regarding it. Details such as how wide is the easement, how close can you build to it, can you pave or concrete over the top of it, what are the rights of the easement holder into access, repair and replacement or damage to your property.
Here would be an example of an issue that could greatly affect the value and the usage of a property. Let us say that a gas pipeline runs across the property diagonally and runs within 2 feet of an addition to the building. The previous owner(s) never got a building permit or checked with the pipeline owner with regards to this easement. The easement has a 25’ no build clause in it on either side of the pipeline. So for 50’ you cannot build or cover the easement and if you do and the pipeline needs to be repaired or replaced on your property the pipeline company would have the right to tear down any or all of the structure covering the easement and not have to replace it. Imaging how this could affect the value of the property and how it would affect your business.
Having an easement on your property may have no, little or major effect to the value of your property. But shouldn’t you know?
If you have questions or want further information, please feel free to reach out to Baker Real Estate, especially if you are in the Casper, Wyoming area.