What is easement?
A nonpossessory right to use another person’s land for a specific purpose, such as utility, access, a shared driveway, drainage, or right of way. Can benefit or burden a property’s value.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.