When buying or selling property in Russell, Kentucky, you’ll likely encounter easements. These legal rights can significantly impact your property use and value. Let’s explore the most common types of easements in Russell real estate transactions and what they mean for property owners.
Utility easements
Utility easements are by far the most common in Russell. These allow utility companies to access your property for installation, maintenance and repair of essential services. Electric companies may need to trim trees near power lines, while water utilities might need to dig to repair underground pipes. As a property owner, you can’t interfere with these easements, but the utility company must restore your property after any work.
Right-of-way easements
These easements grant access across one property to reach another. They’re particularly common in rural areas or where properties are landlocked.
If you’re purchasing a property with a right-of-way easement, consider how it might affect your privacy and property use. Conversely, if you’re selling, disclose any existing right-of-way easements to potential buyers.
Conservation easements
With Russell’s proximity to natural attractions like the Ohio River, conservation easements are becoming increasingly common. These voluntary agreements limit land use to protect natural, historic or cultural resources.
While conservation easements can provide tax benefits, they also restrict future development. If you’re considering a property with a conservation easement, carefully review the terms to understand how they might impact your plans for the land.
Don’t overlook easements in your real estate dealings. Whether you’re considering a downtown property or a suburban lot, carefully review all easements in the title report. If you’re unsure about their implications, consult with a local real estate attorney.
By understanding the most common types of easements in Russell real estate transactions, you’ll be better equipped to make informed decisions about your property.