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FAQ

Recorded easements may be shown on recorded maps, deeds, and occasionally on other recorded documents.

Once a prescriptive easement is established, it creates a legal right to use the property for a specific purpose. This means that the owner of the property cannot interfere with the use of the easement, even if they did not originally grant permission for the use.

An appraisal is simply an estimate or an opinion of a property's current market worth, considering what the market is responding to and other factors. This is usually offered as a free service by real estate agencies. Valuation is a written report prepared on the property and a fee is charged for this service.

The proper valuation methodology for easements is the ?before and after? rule. A variation of this rule is the ?take plus damages? rule. Generally, case law and appraisal literature support this methodology.

The appraisal gives you useful information about the property. It describes what makes it valuable and may show how it compares to other properties in the neighborhood. An appraisal is an independent assessment of the value of the property.

Three main appraisal principles constitute the foundation of valuation theory. Each of these principles is as important to valuation as the law of supply and demand is to economics. These very important principles are the principle of alternatives, the principle of substitution, and the principle of future benefits.