What is an easement and how is it created?

What will be an ideal response?


An easement is an interest in land that gives the holder the right to make limited use of another's property without taking anything from it. Typical easements are common driveways, party walls, and rights-of-way. Easements can be expressly created by grant (where an owner expressly gives another party an easement across his or her property) or reservation (where an owner sells land that he or she owns but reserves an easement on the land). Easement can also be implied by implication (where an owner subdivides a piece of property with a well, path, road, or other beneficial appurtenant that serves the entire parcel) or by necessity (where "landlocked" property has an implied easement across surrounding property to enter and exit the landlocked property). Easements can also be created by prescription—that is, by adverse possession.

Business

You might also like to view...

Debt service coverage ratio

a. Interest expense b. Income tax expense c. Cash flow from operations before interest and tax payments d. Cash paid for acquisitions e. Cash flow from operations f. Total dividends paid g. Interest payments h. Principal payments on debt

Business

When Coca-Cola carries a different price depending on whether the consumer purchases it in a fine restaurant, a fast-food restaurant, or a vending machine, then this form of price discrimination is known as ________ pricing

A) product-form B) loss-leader C) special event D) channel E) location

Business

A purchase is recorded in the purchases journal by entering all of the following except a(n):

a. invoice number. b. post reference. c. supplier. d. date.

Business

Assume that you have tried three different forecasting models. For the first, the MAD = 2.5, for the second, the MSE = 10.5, and for the third, the MAPE = 2.7. We can then say:

A) the third method is the best. B) the second method is the best. C) methods one and three are preferable to method two. D) method two is least preferred. E) None of the above

Business