You’ve found the perfect home on ideal property and your bid has already been accepted! Everything’s going great until you get into the fine details of the contract and start seeing the term Easement, which sounds like your Santa Cruz real estate might come with some serious baggage.
Don’t start getting anxious; easements are a common occurrence and usually don’t affect your property tax or day-to-day activity. They just give a person authority to use land that they don’t own. However, if you notice this term, bring it to your Realtor’s attention because it could affect your future property value. Below we’ve listed a few common easements to help you understand what you’re signing into.
• Right of Way – This is an extremely common easement that allows someone to cross through your land or you to have access to someone else’s.
• Utility – Telephone, electric and cable companies all need places to set up their equipment, and this easement gives them permission to do it. It usually allows them to have regular maintenance access to your Santa Cruz real estate as well.
• Construction – Builders of subdivisions or complexes usually have an easement that grants them access to the property. This contract usually expires once whatever structure their working on has been completed.
• Private v. Public – Private easements are restricted to a list of people stated in the contract, while public easements allow any individual or business to have access to the land.
Easements are usually created after an owner assumes possession of a property. Not only can they be written to allow access, but also can ban it from certain people or certain types of activities. Easements can be set up to expire on a certain date and most are terminated due to lack of necessity and just need to be signed by all parties involved.
Ease your mind about Santa Cruz real estate easements. However, if your contract has easements that seem more complicated, then consult your Realtor. For more information on property easements or other unfamiliar contract terms, please call me at 831.662.6522 or email me at Lauren@LaurenSpencer.com.
For additional real estate information, please visit my home page at www.MySantaCruzRealEstate.com.
Future Property Value
Easements are Usually Created