What is an easement?

An easement is defined as a legal right to use another person's land for a specific purpose. This legal agreement does not grant ownership of the land but allows the holder of the easement to utilize a portion of the property for a defined use, such as accessing a road, utility installations, or maintaining a right of way. Easements are crucial in real estate because they define the relationship between affected properties and clarify what can and cannot be done on a piece of land in relation to its neighbors. As such, they play an important role in property rights, land use planning, and property development.

In contrast, a formal contract for lease pertains to an agreement where one party pays another for the use of land for a specific time rather than a right of use without transfer of ownership. Restrictions placed on property titles refer to limitations that might be placed on the use of the land, usually documented in the title deeds but do not involve usage rights established through an easement. Lastly, shared ownership implies joint ownership of a property between parties, which differs significantly from the concept of an easement that allows usage without ownership rights.