Buying Property With Easement
Ask the Real Estate Lawyer: Real Estate Law Q&A
REM # LAW 765
By Ilyce R. Glink and Samuel J. Tamkin
Summary: A ThinkGlink reader owns property with an easement through the neighboring lot. He is now planning on buying that lot. Sam and Ilyce explain that the easement will merge with the newly formed property.
Q: I am purchasing a lot next door that has an easement giving me a right of
way to my otherwise landlocked home. In order to preserve this lot next door
as a lot plus the easement, do I have to deed the property to a limited liability
company?
I have been told that if I deed it to myself, the entire lot would become one giant easement, instead of a lot plus and easement.
A: Someone is giving you good information. If you are the beneficiary of an easement – in this case the easement gives you access to your landlocked property – and you buy that property, the easement is no longer needed and merges into the newly formed property.
The easement does not become a “giant easement.” The easement is eliminated.
Whoever gave you the advice of buying the property in the name of a limited liability company or in any other manner other than in the name in which your landlocked property is owned, is giving you sound advice to preserve the separation of the adjacent lot and easement.
But if you are consolidating the two properties and plan to always use them as one, you wouldn’t have to worry about the easement and could buy the adjacent property any way you want.
You may have various options in buying the adjacent property and you should
really consult with a real estate attorney in your area.
Samuel J. Tamkin is a Chicago-based real estate attorney. Ilyce R. Glink’s latest book is 50 Simple Steps You Can Take To Sell Your Home Faster and For More Money In Any Market. If you have questions for them, write: Real Estate Matters Syndicate, PO Box 366, Glencoe, IL 60022 or contact them through Ilyce’s website www.thinkglink.com
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