Easement Agreement

What is an Easement Agreement?

An easement agreement is a legal document that gives a party the right to use another party's land for a specified purpose while the ownership of the land remains with the original owner. Essentially, it grants a non-possessory interest to use real property in possession of another entity.

Common examples of easements include utility companies having easements on property to install power lines or pipelines or granting a neighbour the right to use a shared driveway.

What are the benefits of creating an Easement Agreement?

1. Access: For an individual or a business, easements can grant necessary access to resources or facilities otherwise unavailable. This could be as simple as access to a landlocked property via a road through a neighbour’s land.
2. Profitability: For businesses, easements can have significant commercial value. Utility companies, for example, rely on easements to install their infrastructure, providing essential services and generating revenue.
3. Property Value: In some instances, having an easement on a property can enhance its value. For instance, a view easement that prevents obstruction of a scenic view could increase the property's worth.
4. Cost Efficiency: An easement can provide a cost-effective solution for certain needs. Instead of purchasing a property outright, a business might negotiate an easement for necessary access or use.
5. Land Conservation: Conservation easements help individuals and organizations protect natural resources, wildlife habitat, or historical sites. Landowners can benefit from tax advantages, and society as a whole benefits from the preservation of these important spaces.
6. Legal Clarity: Easement agreements clarify the rights and responsibilities of all involved parties, reducing potential disputes. For businesses, this clarity can mitigate legal risks and associated costs.
7. Flexibility: Easement agreements can be tailored to specific situations, providing flexibility for both the grantor and the grantee. They can specify the type of access, the duration, and any conditions of use.