Buying or Selling Real Property with an Easement
Are you able to sell the real property you currently own if it has an easement? Is it inadvisable to purchase real estate that already has an easement associated with it? These are common questions for buyers and sellers alike in New Jersey, whether you are considering purchasing residential or commercial property. In short, it is possible to buy and sell real property with an easement, and sometimes the easement will not have a significant effect on the purchase or sale. When an easement presents an issue, it may be possible to terminate the easement, or the easement might even terminate on its own depending on the circumstances.
Our Summit land use attorneys can provide you with more information below, and we can speak with you today to answer any questions you have about buying or selling property with an easement in New Jersey.
Types of Easements in New Jersey
Generally speaking, when you are considering buying or selling property with an easement, you should know about the following types of easements:
- Easement appurtenant, where the easement is attached to the property (and thus would transfer to a new owner with the property);
- Easement in gross, where the easement is granted by the property owner to a specific party for a particular purpose (and thus does not transfer to a new owner if the property is sold, for example);
- Express easement, which is an easement in writing; and
- Implied easement, which is an easement that exists due to necessity or due to prior ongoing use.
Considerations When You Are Buying or Selling Property with an Easement
What considerations should you be thinking about if you are selling or buying property with an easement?
First, is it an easement appurtenant that is tied to the property? If not, the easement may not even be an issue. Second, is the easement an express or an implied easement? If it is an express easement, it may have a specific time limit or terms for the easement and its termination.
If the easement will pass with the property and there are no original terms for the easement’s end date, what can you do if you want to terminate the easement? You can terminate an easement with written permission from the party that benefits from the easement (known as the “dominant estate”). The owner of the property where the easement exists (known as the “servient estate”) can buy the dominant estate to terminate the easement. Other options may be available, as well. At the same time, you should discuss the terms of the easement in detail with your lawyer — it may not be a problem or a concern to purchase or sell property with an easement.
Contact Our Summit Land Use and Zoning Lawyers for Assistance with Your Questions About Easements
The prospect of buying or selling real property that has an easement can be stressful, but it does not necessarily need to be. The easement ultimately may not be as serious a concern as you think, or it may be possible to terminate the easement. One of the experienced Summit land use and zoning attorneys at Dempsey, Dempsey & Sheehan can speak with you today to learn more about the specific details of the property and the easement at issue, and we can provide you with more information about your options. Contact our firm today for assistance with easement issues and any other land use matters in the Summit area.
Source:
law.justia.com/codes/new-jersey/2009/title-40/40-55d
