Your neighbor comes to you and asks if they can set up a legal easement with your property. They need to be able to cross it at certain times, perhaps as they develop the property around your land or for other reasons.
At first, you think it sounds like a great idea. They’re even offering you financial compensation. Plus, you have a great relationship with your neighbor. You honestly don’t mind if they use your land, and it’s not going to negatively impact the way that you use it at all. Your gut instinct is to agree to the easement.
But are there any downsides to doing this? Are there any reasons that you may not want to?
Will it impact your property value?
One thing to think of is your property value if you eventually do decide to sell. If the property has an easement, you have to disclose it. Many times, an easement will remain with the land even through a sale. This means that the next homeowner has to allow your former neighbor to use the land.
Now, they may not mind, but there’s no telling if you’re going to alienate some potential buyers. They may not be willing to grant the easement and may not be interested in a property that has one. This could drive the price of your property down because there is less demand for it.
If you run into any complicated situations with your real estate, it is crucial that you know about all of the options that you have and that you carefully consider every step you take.