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Easement In Gross: Definition, Example, Vs. Easement Appurtenant
Published: November 15, 2023
Learn about easement in gross in finance, including its definition, example, and how it differs from easement appurtenant. Enhance your understanding of finance-related easements.
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Welcome to the Finance Category: Easement in Gross Explained
If you’re in the world of real estate, you’ve likely come across the term “easement.” But did you know that easements can be classified into different types? In this article, we will dive into the world of easements and focus specifically on easement in gross. We will define easement in gross, provide an example to help illustrate its application, and compare it to another type of easement – easement appurtenant. So, let’s get started!
Key Takeaways:
- Easement in gross is a type of easement that grants a specific individual or entity the right to use someone else’s property for a particular purpose.
- Easement in gross differs from easement appurtenant, which is attached to a particular piece of land and benefits the owner of a separate adjoining property.
What is Easement in Gross?
Easement in gross is a legal concept in real estate that grants a specific individual or entity the right to use someone else’s property for a particular purpose. Unlike easement appurtenant, easement in gross is not tied to any specific parcel of land and does not benefit the owner of any particular property.
Basically, easement in gross allows a person or entity (known as the easement holder) to access or use a portion of another person’s property for a specific reason, such as installing utility lines or crossing the property to access a water source. The property owner, known as the servient estate, must allow the easement holder to exercise their rights as specified in the easement agreement.
An Example of Easement in Gross
Let’s say there is a large plot of land owned by Farmer John. However, Farmer John does not have direct access to the main road because his property is surrounded by other parcels of land. In this case, Farmer John may reach an agreement with his neighbor, Jenny, who owns the adjacent property that does have direct access to the road.
Jenny, as the servient estate owner, grants Farmer John an easement in gross, allowing him to cross her land to reach the road. This easement ensures that Farmer John has a legal right to cross Jenny’s property, even though he doesn’t own it. Farmer John can now carry out his farming activities, transport his produce, and access the highway without any legal issues.
Easement in Gross Vs. Easement Appurtenant
It’s important to understand the distinction between easement in gross and easement appurtenant, as these two types of easements differ in terms of their characteristics and beneficiaries.
Easement appurtenant is a type of easement that is attached to a particular piece of land and benefits the owner of a separate adjoining property. In other words, easement appurtenant exists to benefit a particular parcel of land and its owner, whereas easement in gross benefits a specific individual or entity without necessarily being tied to any specific real property.
For example, imagine there is a piece of land owned by Forest Preservation Society. The society grants an easement appurtenant to a neighboring school to use a portion of their land for an outdoor environmental education program. In this case, the school is the dominant estate, benefiting from the easement, while the Forest Preservation Society is the servient estate.
In contrast, if the Forest Preservation Society granted an easement in gross to a hiking group to cross their land without any specific land being benefited, it would illustrate an easement in gross. Here, the hiking group would be the easement holder, and the Forest Preservation Society would be the servient estate.
In Conclusion
Easement in gross is a legal concept that allows a specific individual or entity to use another person’s property for a specific purpose. It differs from easement appurtenant, which is tied to a specific parcel of land. Understanding the differences between these two types of easements is crucial in real estate transactions and property rights discussions.
We hope this article has provided you with a clear definition of easement in gross and has illustrated its application through an example. Remember that easements can be complex, so it’s always a good idea to consult with legal professionals when dealing with easement-related matters.
Stay tuned for more informative articles on finance and other exciting topics in our Finance category!