Easement Without Deed

State:
North Carolina
Control #:
NC-01905BG
Format:
Word; 
Rich Text
Instant download

Description

Easements are limited rights to use land owned by others in fee. Easements in gross are held by persons. They detach rights from land and attach to a person. Unless somehow limited in time they can be conveyed separately from the holder's other lands. Mineral rights, timber rights, hunting rights, and public road and utility easements are examples.


Title is a legal term for a bundle of rights in a piece of property in which a party may own either a legal interest or an equitable interest. The rights in the bundle may be separated and held by different parties. Examples are as follows:


" Water rights;

" Mineral rights;

" Easement to neighboring property, for utility lines, etc.;

" Timber rights;

" Farming rights;

" Grazing rights;

" Hunting rights;

" Air rights;

" Development rights to erect improvements under various restrictions; and

" Appearance rights, often subjected to local zoning ordinances and deed restrictions.


As an interest in real property, an easement may be created by an express grant and should be drawn and executed with the same formalities as would be employed with a deed transferring realty. As for any conveyance of an interest in real property, a grant of an easement must describe the land that is to be subjected to the easement with sufficient clarity to locate it with reasonable certainty. An easement should be properly recorded; an unrecorded easement may not be enforceable against a subsequent purchaser.

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How to fill out North Carolina Deed Of Easement For Life Of Hunting Rights?

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FAQ

There is no maximum or limit on how many times you can use a VA loan. You can use a VA loan once, twice, three times or seven. As long as you have remaining entitlement, you typically always have the option to obtain another VA loan. Veterans United has even worked with a handful of Veterans on their 9th VA loan.

One Loan At A Time: Restore Your Full Entitlement You'll have to apply for entitlement restoration through the VA. You can only use this type of restoration once; in the future, you'll have to follow the standard rule of selling the property before you can have your entitlement restored.

Your entitlement may also not be restored if the VA does not know the current status of your property. If you have paid off your VA home loan in full, but you still have the property, you may not be eligible.

VA loan entitlement cannot be regained after foreclosure without repaying the VA in full. The good news is that many borrowers are able to purchase again using their second-tier entitlement.

Veterans can restore previously used VA entitlement by: Selling the original property, repaying their current VA loan in full and disposing of the home. Allowing a qualified Veteran to assume their current loan and substitute their entitlement for theirs.

Sell the property: Selling the property you bought with your current VA loan is the simplest way to restore your entitlement. However, you must also be able to repay the full amount of the loan in addition to selling your property.

You may qualify for a one-time restoration of entitlement if you've repaid your VA loan but haven't sold your home. This is a significant benefit, as it allows qualifying borrowers to keep the first home they purchased and use the VA loan on a new property as well.

One Loan At A Time: Restore Your Full Entitlement You'll have to apply for entitlement restoration through the VA. You can only use this type of restoration once; in the future, you'll have to follow the standard rule of selling the property before you can have your entitlement restored.

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Easement Without Deed