Termination Easement Form With Mortgage

State:
Multi-State
Control #:
US-00993BG
Format:
Word; 
Rich Text
Instant download

Description

The Termination Easement Form with Mortgage is a legal document utilized to formally terminate an easement agreement between two parties, known as the Releasor and Releasee. This form captures essential details, including the nature and scope of the original easement, the effective date, and adequate consideration exchanged between the parties. It is particularly designed for users such as attorneys, partners, owners, associates, paralegals, and legal assistants who may be involved in real estate transactions or property law. Key features of the form include clear sections for identifying parties, describing the easement, and stipulating the payment consideration. Users should ensure that all relevant information is accurately filled out and that signatures are notarized to validate the termination. The form can be edited to cater to specific situations, making it versatile for various real estate contexts. For attorneys and legal staff, this form serves as a crucial tool to facilitate the proper dissolution of easements, safeguarding the interests of clients. It emphasizes the importance of clarity in legal agreements, ensuring that all parties understand their rights and obligations regarding property use.
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How to fill out Terminating Or Termination Of Easement By A General Release?

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FAQ

An easement, by definition, grants another person, entity or business the right to access or use someone else's property. It basically gives a non-titled party an interest in the property.

Easements may be extinguished by abandonment. Abandonment takes place whenever cessation of use occurs accompanied by a clear intent never to use the easement again. Mere nonuse does not constitute aban- donment. However, the intent may be inferred from the circumstances if such evidence is clear and definite.

When a property owner holds an easement on neighboring property and later acquires title to that neighboring property, the easement automatically terminates by operation of law due to the merger of title. After all, a property owner cannot hold an easement on its own property.

Synonyms of easement (noun right of way) access. passage. legal right. means of access.

Merger of Title An easement appurtenant is automatically extinguished if, at any point, the same person comes to own the dominant tenement and the servient tenement at the same time. Even if the ownership is later split along the same borders of the original properties, the original easement is extinguished.

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Termination Easement Form With Mortgage