Alabama Subordinaton of Mortgage Lien to Easement and Right of Way
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How to fill out Subordinaton Of Mortgage Lien To Easement And Right Of Way?
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FAQ
Land affected or "burdened" by an easement is called a "servient estate," while the land or person benefited by the easement is known as the "dominant estate." It is the responsibility of the dominate estate holder for maintenance and upkeep of the easement.
An affirmative easement gives the easement holder the right to do something on the grantor of the easement's land, such as travel on a road through the grantor's land.
Easements in Gross In contrast, an easement in gross benefits a person or entity, rather than a parcel of land. If the property is sold to a new owner, the easement is typically transferred with the property.
A subordination agreement is a legal document that establishes one debt as ranking behind another in priority for collecting repayment from a debtor. The priority of debts can become extremely important when a debtor defaults on their payments or declares bankruptcy.
An easement is defined as ?a legal interest in real property that grants the right to use in some specified manner the property of another.? Easements, also called rights of way, give Alabama Power Company the right to use another landowner's property to construct, operate, and maintain transmission facilities such as ...
An appurtenant easement is a property right that allows the holder to use an adjoining piece of real estate. This real property transfers with the land. A dominant tenement is the parcel of land that derives benefit from the easement while a servient tenement is the land parcel that provides the easement.
An easement intended to run with some benefitted land is called appurtenant to the benefitted land (also called the dominant tenement holding or dominant estate). Otherwise, the easement is personal to the grantee and is called in gross.
