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Easements are nonpossessory rights to use a third party's property. They can be conveyed by deed or contract and may have a significant impact on the underlying property.
When valid and enforceable, easements may have a major impact on the use of property, its development and ultimately the value of the underlying property. It is very important to timely identify easements in diligence, value them, and perhaps obtain their termination or release. If your client depends on an easement, ensuring that they are properly drafted and filed, and are enforceable are essential.
This program provides a real-world guide to easements in real estate transactions, including their types, how they are created and released, or enforced in transactions.
- Types of easements – prescriptive, appurtenant, in gross, mortgage-related, estoppel, necessity and quasi-easements
- How they are used in real estate transactions – which are best for your client?
- Due diligence in transactions – identifying and valuing easements
- Creation of easements – drafting essential terms and filing for maximum enforcement
- Enforcement – methods and measure of damages
- Termination and release – effective drafting to eliminate easements