You might be thinking I want to “sell my house fast” and buy a new one. If this is true, knowledge of any easements on the property is critical. An easement is a sharing of land. It gives the right to a particular person or group to utilize the land. When trying to sell your house fast, an easement can be problematic as it may affect resale value.
An easement dictates legal usage of the property by an outsider. That person or group cannot be stopped from using the space in specific legally designated ways. Easements occur in the following forms:
The Right of Passage – This easement entitles a person to cross through a property that is not owned by them. For example, if a person owns a house near the beach and the only possible way to the beach is on the property, the owner has to allow the people to access the beach via its property. The second example can be a neighbor that may not have access to any other road, which leads to the main road rather than the property of the owner.
The Right to Utility Maintenance– This easement entitles utility organizations to use property for laying power cables and/or reaching out to neighboring places for maintenance work.
The Right to Historic Lands – This easement involves individuals whose property is located in the same district as a historic property. The owner needs to abide by the rules of the historic property. The rules can be related to the coloring of the property or can also be related to structural changes that cannot be made to the property. Read about historical easements in Maryland.
Recreational Easement – The easement pertains to the usage of land which has not been developed. The government can allow public use of such land for recreational activities such as fishing, hiking, biking, etc.
Easements are listed on the property deed. For property you own, you should check the deed for easements before listing the property before you “sell my house fast”. When buying a house, always ask your realtor about easements. At 8 Day Home Sale, we buy houses for cash and have been doing so for years. As such, we always work with home owners to find and understand existing easements on their property.