Owning property can be a complex situation. What you can do with it depends on where the property line ends and where it is situated.
We have broken it down to three very important things to think about when determining what you can do with your property and what you need to do. In Part one we discussed fences, in part two we discuss easements.
Imagine after living in your house for several years, you are finally ready to put in that new pool you’ve been dreaming of. You may not have as much “usable” land as you thought.
Here’s the solution: Get a copy of your title commitment from when you purchased your house and look for easements.
Easements are commonly granted to utility companies. You give them the right to put utility lines in your yard and by doing so, you agree not to interfere with their ability to use or access the easement area. When you purchase a home, a title company performs research pertaining to the history of the property. They identify easements that are on your property. If a boundary survey was performed, those easements are shown and referenced on the drawing. If you build something in an easement, you run the risk of having to remove that item from the easement area if the utility company needs to access that land.
There are many facets to owning property. Having a knowledgeable resource, such as a local REALTOR®, can make property ownership easier. They can be a wealth of knowledge and can refer credible resources to you for any situation that may arise.
Stay tuned next month as we discuss the third most important thing to know about owning property.