Tennessee Mutual and Reciprocal Non-Exclusive Perpetual Easement Agreement Agreement
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FAQ
If the property is sold to a new owner, the easement is typically transferred with the property. The holder of the easement, however, has a personal right to the easement and is prohibited from transferring the easement to another person or company.
An agreement that: Provides for the rights and obligations of multiple owners of real property. Ensures harmony in the development, operations and maintenance of the affected real property.
An easement appurtenant is an easement that benefits one parcel of land, known as the dominant tenement, to the detriment of another parcel of land, known as the servient tenement.Similarly, if Landowner B sells his property to another landowner, that landowner will be able to use the easement. Easement in Gross.
There are four types of easement Section. 5 of Easement Act deals with the types of easement. It provides that the easements are either continuous or discontinuous ,apparent or non apparent. A continuous easement is one whose enjoyment is, or may be, continual without the act of man.
Perpetual easement is that type of easement which is to last without any limitation of time. It is a right which a person has on the property of another person which to an extent is permanent.
A perpetual non-exclusive easement renders the land permanently accessible to all those who benefit from the easement. Alternatively, a temporary non-exclusive easement is granted for a specific period of time. Non-exclusive easements are generally perpetual in nature and attach to the land.
Typically, reciprocal easement agreements ("REAs") are used when a property is owned by more than one person or entity, and the persons or entities wish to develop the property as an integrated shopping center.These contractual obligations will run with the land of the property that comprises the shopping center.
Property law allows for an easement owner to transfer his easement to another person. And as with other property interests, in some ways an easement owner can divide his easement rights and transfer some of them to another person. Similarly, a servient owner can transfer the servient land to another person.
Cross easements are reciprocal easements created by contract, the one being granted in favor of premises of one party in consideration of a grant by such party in favor of premises of the other party.