What is an easement in real estate terms?

An easement in real estate refers to a legal right that allows an individual or entity to use a portion of another person's land for a specific purpose. This could involve accessing a road, utility installation, or drainage, among other possibilities. Easements do not provide ownership of the land; instead, they grant permission to use it in ways that benefit the holder of the easement while respecting the rights of the property owner.

This legal arrangement is important for numerous real estate transactions and property development situations, as it enables cooperation between property owners and supports the necessary infrastructure and utility needs of a community. Understanding easements is crucial for anyone involved in real estate, as they can impact property rights and land use significantly.