An easement is an interest in land to allow the use of the land in a particular manner. The land over which the easement is granted is called the ‘burdened lot’, is noted on the title of the property and runs with the ownership of the lot.
In effect, this restricts the use of the lot by the registered owner in ways that would be applicable to the purpose of the easement. This restriction on the use may influence the value of the property. Accordingly, easements are required to be disclosed by the Seller as an encumbrance on the title. If the Seller fails to disclose it as an encumbrance on the title of the property, the buyer has the right to terminate.
Are you looking to sell your home in Queensland or Victoria? If so, don’t hesitate to reach out. Ownit provides seamless and stress free conveyancing to buyers and sellers!
Settle it, anywhere, anytime with OwnIt
