Intermediate45 minutes10 terms

Easement in Gross: Key Terms Collection

This curated collection offers key terms that might be helpful when exploring easements, particularly 'easement in gross,' in real estate investment. It's designed as a quick reference to clarify commonly encountered concepts, not a comprehensive legal guide.

Term Collection

Encumbrance

A claim or liability against a real estate property that affects its title and may diminish its value or restrict its use, but does not prevent its transfer.

Intermediate11-12 min

Title Search

A title search is a comprehensive examination of public records to confirm a property's legal ownership and identify any claims, liens, or encumbrances against it, ensuring a clear title for real estate transactions.

Intermediate11-12 min

Easement in Gross

An easement in gross is a legal right to use another person's land for a specific purpose, where the right is attached to a specific individual or entity, rather than to an adjoining parcel of land. It does not transfer with the land's ownership.

Intermediate5 min

Investment Risk

Investment risk in real estate refers to the potential for an investment's actual returns to differ from the expected returns, often resulting in financial loss. It encompasses various factors that can negatively impact property value, cash flow, or an investor's capital.

Intermediate5 min

Appraisal

An appraisal is an unbiased, professional opinion of a property's market value, conducted by a licensed appraiser, primarily used for lending, buying, and selling decisions.

Intermediate14-15 min

Servient Estate

A servient estate is a parcel of land that is burdened by an easement, meaning it must allow another property owner (the dominant estate) to use a portion of it for a specific purpose.

Intermediate2-3 min

Appurtenant Easement

An appurtenant easement is a right that benefits one parcel of land (the dominant estate) and burdens another adjacent or nearby parcel (the servient estate), typically for access or utility purposes, and runs with the land.

Intermediate6 min

Due Diligence

Due diligence is the critical process of investigating and verifying all material facts about a property and its financials before a real estate acquisition, aiming to identify risks and ensure an informed investment decision.

Intermediate14-15 min

Easement

A legal right allowing one party to use or access another's property for a specific, limited purpose, without owning the land. It creates a non-possessory interest that can affect property value and use.

Intermediate15-18 min

Dominant Estate

In real estate law, the dominant estate is the property that benefits from an easement over another property, known as the servient estate. It holds the right to use or access a portion of the servient estate for a specific purpose.

Intermediate2 min