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With a possessory lien, the lender holds onto the underlying collateral during the term of the loan or agreement until it's paid off in full. Nonpossessory liens give the borrower physical possession of the asset during repayment.
Non-exclusive means that a number of different parties can use the easement. Non-exclusive can also mean that additional parties could be granted the right to use that same easement in the future. A common example of a non-exclusive easement is an access or roadway easement in a shopping center.
An easement is a right to make certain types of use of property. The most common is the right to build a road across someone else's land (or use a road) in order to get access to your own land. Another common easement is the right to cross someone's land in order to get to a railroad track or access to the ocean.
Non-exclusive listing agreements also allow a seller to list a home with numerous agents, and they require payment of a commission only to the agent who actually sells the home.
An easement is defined as the grant of a nonpossessory property interest that grants the easement holder permission to use another person's land.
Easements. An easement is a nonpossessory right to use another person's land in some limited way that does not constitute full ownership. The person or legal entity that benefits from the easement has a nonpossessory interest in the other person's land.
(a) The driver of a vehicle within an intersection intended to turn to the left or right shall yield the right-of-way to any vehicle approaching from the opposite direction which is within the intersection or so close to it as to constitute an immediate hazard, or shall yield to a pedestrian intending to cross within a ...
An easement is a nonpossessory right in the land of another. A profit allows the holder to enter on land that he or she does not possess and remove resources from it, as by mining coal or harvesting timber.