12:02
Right, that makes sense, but I assume if more people lived there it wouldn’t be sustainable for dividend payments to go out?
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Simple English definitions for legal terms
access easement
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A quick definition of access easement:
An access easement is a type of legal agreement that allows someone to travel across another person's land to get to a nearby location, like a road. It's a limited right to use or control the land for a specific purpose, like crossing it to get to a public road. The land that benefits from the easement is called the dominant estate, while the land burdened by the easement is called the servient estate. Unlike a lease or license, an easement may last forever, but it doesn't give the holder the right to possess, take from, improve, or sell the land.A more thorough explanation:
An access easement is a legal right to use or control someone else's land for a specific purpose, such as crossing it to reach a public road. The land that benefits from the easement is called the dominant estate, while the land burdened by the easement is called the servient estate. Unlike a lease or license, an easement may last forever, but it does not give the holder the right to possess, take from, improve, or sell the land.
Examples of access easements include:
- A right-of-way allowing someone to cross a neighbor's property to reach their own land
- A driveway easement allowing multiple properties to share a common driveway
- An easement allowing a utility company to access their equipment on someone else's land
These examples illustrate how an access easement can provide a legal right to use someone else's land for a specific purpose, without giving the holder ownership or possession of the land.