The subject of legal abandonment of easements due to identifiable obsoleteness influences owners of aging properties and is important to the real estate industry. In many cases, properties can carry lingering easements on record, originally established to serve needs that are no longer applicable or are practically considered outdated.
An article by Patton Sullivan Brodehl LLP recently highlighted this issue, stating that recorded easements could impact a property’s value even for potential buyers or sellers who have no intent to sonorously utilize an easement, particularly if it is an outdated one.
The practice of easements being considered as abandoned when the authorized use ceases to hold practical value raises several implications for both legal and real estate professionals. The laws stipulating when an easement is regarded as effectively abandoned vary by jurisdiction and often hinge on whether the easement holder’s actions demonstrate an intent to abandon the right.
For corporate attorneys advising clients involved in real estate transactions where such recorded easements might exist, evidence substantiating that the easement’s purpose has become outdated necessitates thorough examination. This could influence the property’s value, and entails the importance of weighing the risk of potential legal disputes that may ensue from sellers or buyers who might dispute the validity of the easement.
Legal departments within corporations need to be vigilant in reviewing such agreements, and ensuring they are kept updated in line with any changes in the usage of the property in question. This is vitally important to protect the corporation’s interests and avoid potential legal conflicts in the future.