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The difference between easement and covenant rests on who owns the property being used. Your right of use, or right of way, over someone else's property is an easement. A contract limiting how you use your own property is a restrictive covenant.
And easement is terminated by release if the dominant tenant agrees to give up the interest. A written release is required, usually the dominant tenant execute a quick claim deed in favor of the servient tenant, and the servient tenant records the deed.
Public easements, or those with a public benefit such as public ways, railroads, public (and private) utility and other service easements do not expire. They must be extinguished in the manner provided by law.
There are eight ways to terminate an easement: abandonment, merger, end of necessity, demolition, recording act, condemnation, adverse possession, and release.
Negative easements will usually exist between owners of adjacent property in uncommon circumstances. Restrictive covenants will almost always be present when you buy property in common development.