What is an "easement" in real estate?

An easement in real estate is a legal right that allows one party to use another person's property for a designated purpose. This arrangement does not transfer ownership of the land but grants specific usage rights, which can be crucial for accessing resources, pathways, or utilities. For example, utility companies often hold easements to install and maintain power lines or water pipes across private land, ensuring they can provide services without infringing on the landowner's rights beyond the specified use.

Understanding easements is important because they can affect property values and the way land can be developed or used. Their legal nature means that they must be clearly defined and often recorded to be enforceable, ensuring that both the property owner and the easement holder understand the extent and limitations of the rights granted. The other options, while relevant to property and real estate, do not accurately describe an easement.