Commercial Real Estate Easements and Licenses
Property is subject to many different interests other than ownership. Two such common interests are known as easements and licenses. Both easements and licenses are nonpossessory interests in real property. Both act as vehicles to permit another a right to use a specified tract of land for a specified purpose. This use could be something as simple as a right of access across a tract or the right to use the tract for hunting. Both licenses and easements can be used to grant such rights, but licenses and easements are different from each other.
Most notably, easements can pass from one interest owner to the next. They do not simply cease because the easement holder dies or goes out of business. They are said to “run with the land.” Licenses are more personal in nature. They are generally revocable, last only for a specified time and do not run with the land or pass to future generations.
Easements, licenses, and other property interests all have their own uses. Our experienced real estate counsel will take time to understand your goals to determine which type of interest suits your needs. Call us today so our attorneys can help with your real estate transaction.