Ohio Grant of Easement for Gas Pipeline
Definition and meaning
The Ohio Grant of Easement for Gas Pipeline is a legal document that allows a designated entity, known as the Grantee, to access and utilize a specific piece of land owned by another party, referred to as the Grantor. This easement grants rights to construct, maintain, and operate pipelines for gas transportation, thereby facilitating necessary infrastructure development. It is crucial for managing gas distribution while respecting property rights.
How to complete a form
To properly complete the Ohio Grant of Easement for Gas Pipeline, follow these steps:
- Fill in the names and addresses of the Grantor and Grantee.
- Specify the amount of consideration for the easement.
- Detail the specific location of the easement, including land descriptions and any relevant sections.
- Clearly outline the rights granted to the Grantee, including any additional clauses for maintenance and land use.
- Ensure the document is signed by the Grantor and verified by a Notary Public.
Remember to review the completed form for accuracy before submission.
Key components of the form
The Ohio Grant of Easement for Gas Pipeline includes several essential components:
- Parties Involved: Clearly identifies the Grantor and Grantee.
- Consideration Amount: States the monetary compensation exchanged for the easement.
- Easement Description: Describes the geographic area of the easement.
- Rights Granted: Specifies what the Grantee can do within the easement.
- Warranties: Assurance from the Grantor regarding their authority to convey the easement.
Who should use this form
This form is ideal for property owners in Ohio who need to grant easements for gas pipelines to utility companies or private gas service providers. It is also applicable for gas companies seeking legal access to install and maintain pipeline infrastructure. Both parties should seek to understand their rights and obligations under the easement.
Common mistakes to avoid when using this form
When completing the Ohio Grant of Easement for Gas Pipeline, be cautious of the following common errors:
- Failing to include all necessary parties’ information.
- Not specifying the correct location and description of the easement.
- Omitting required signatures or notary acknowledgment.
- Including unclear language that might lead to disputes.
Double-checking the form can help mitigate these issues.
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FAQ
If an easement is 50 rods long, that is almost an acre. In a recent case, a pipeline company paid some owners $180 per rod and others $767 per rod for the same project.
A pipeline easement specifically gives the easement holder the right to build and maintain a pipeline on a landowner's property. It doesn't grant the easement holder actual ownership of the land, just a right to use the land for pipeline purposes.
How much money should landowners get when an oil or gas pipeline crosses their land? As it stands, landowners receive a one-time payment roughly based on the length of the pipeline, with rates varying from $5 to $50 per foot or more for a Marcellus or Utica shale pipeline right-of-way agreement.
What is a Pipeline Easement? Generally, an easement is a legal interest that allows someone the right to use another's property for a certain purpose. A pipeline easement specifically gives the easement holder the right to build and maintain a pipeline on a landowner's property.
Pipelines can reduce property values by 5 to 40 percent by making them less attractive to potential buyers, according to local Realtors.
Easements are treated as a recovery of the basis of the property first, with any excess proceeds treated as capital gain, which is taxed at a lower rate than ordinary income. The basis of property that offsets an easement is limited to the basis of the affected acres or square footage.
How much money should landowners get when an oil or gas pipeline crosses their land? As it stands, landowners receive a one-time payment roughly based on the length of the pipeline, with rates varying from $5 to $50 per foot or more for a Marcellus or Utica shale pipeline right-of-way agreement.