As you go through the home buying process, you may come across the term easement and wonder what it means and how it affects your property value. Easements are very important to a real estate transaction and therefore something you should care about when purchasing your next home. An organization or a person may have the right to use a specific piece of land that remains with the landowner for a distinct purpose. What it means to have an easement on your property An easement grants someone the right to cross or use someone else’s land for a specified purpose. Even if you own the land, it means that you cannot control this other person from using the land for the purpose specified in the easement. It exists regardless of who owns each property. So, if you’re searching for a new home or just thinking about buying a home, be sure to check with the seller to see if any easements exist. If they do, they’re not going away just because you now own the home. For example, an easement on your property may control the accessibility to an electrical pole by a utility company. Or if a neighbors driveway … Continue reading What Is an Easement? What You Should Know