One of the most important words in a Realtor’s vocabulary is DISCLOSE. This is especially true when referring to easements. Not always found on the survey, an easement is described as “a right granted to a person, other than the owner of the property, to pass over or under, or use a specific portion of that property for a particular purpose.”
Examples of an easement:
~ Your neighbour has a legal right to use a portion of your driveway to access his garage.
~ Public utilities have buried services, such as telephone wires or gas lines on your property.
It’s important to note that if your property is subject to a legal easement, you can not alter the land that is subject to said easement. It must be left unaltered/unimproved so that the user can gain access at any time slimming pills that work. This means you might possibly be restricted if you want to add a pool or even possibly a patio or deck to the back yard. In some instances the easement holder will provide consent to the property owner to make changes. This is referred to as an easement agreement. However, even in these circumstances, if the individual or group that holds the easement requires access and you have altered the land to where they can no longer gain access, you will be required, at your own expense, to remedy it.
Without complicating the above, it should be added that there are unregistered easements that do not appear on the title or survey. They are known as “prescriptive easements,” involving the passing over of another owner’s land for twenty or more years.
So you are probably thinking that if you have an easement and it’s time to sell, it would be beneficial for you not to disclose this information. I do not recommend this action! Any and all pertinent facts relating to your property should absolutely be disclosed. Although there is some language built into a standard Agreement of Purchase and Sale relating to easements, it refers to those that do not materially effect the usage of the property. Failing to disclose anything that could potentially effect the Buyer’s use of the property could result in one of the following actions:
~ The Buyer can decide not to fulfill the agreement and walk away from the deal.
~ The Buyer can request an abatement equal to the perceived value of the easement.
Neither of these circumstances are very favourable and could possibly end up costing you more than if you had disclosed the easement in the first place. Like I said, disclose, disclose, disclose!
