Hazard Easement Formula

State:
Multi-State
Control #:
US-EAS-4
Format:
Word; 
Rich Text
Instant download

Description

This is a sample form for use in transactions involving easements, an Avigation and Hazard Easement. Grant to the Federal Aviation Association unobstructed use and passage of aircraft in and through airspace of the Grantor.

An easement gives one party the right to go onto another party's property. That property may be owned by a private person, a business entity, or a group of owners. Utilities often get easements that allow them to run pipes or phone lines beneath private property. Easements may be obtained for access to another property, called "access and egress", use of spring water, entry to make repairs on a fence or slide area, drive cattle across and other uses. The easement is a real property interest, but separate from the legal title of the owner of the underlying land.
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FAQ

Utility company easements represent the most common types of easements in gross in the US. A utility easement makes it possible for a utility company to service part of a property or maintain equipment needed to supply utility services. Pipeline easements are also considered common easements in gross.

In California, an easement is defined as a right granted to an entity to use a piece of property belonging to a separate individual or entity for a specific purpose. The most common types of easements in real estate are those that grant road or utility access.

For example, if your family owns land that abuts a highway and a local dairy farm wants to access that highway by cutting through your land, your family may sell a commercial easement in gross to the dairy.

What is an Easement in Gross? An easement in gross is a right allowing an individual to legally use a property owned by someone else. It is valid until the legal owner lives in or holds the property. An individual owning a property can legally allow others to make use of the property as per his/her wish.

Easement in gross: a definition In real estate, an easement legally gives someone other than the property owner the right to use that property in a specific way. With an easement in gross, that allowance gets extended to a specific entity, such as an individual, a family or even a company.

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Hazard Easement Formula