What does Easement mean? Read on to discover the definition & meaning of the term Easement - to help you better understand the language used in insurance policies.
An interest that one party has in the land of another or a right of use over another party's property. An easement need not be written but may be implied or created by necessity or by prescription. Generally, the party enjoying the benefit of being on the property of another assumes the liability of the property owner. Easements are "insured contracts" unless they are in connection with construction or demolition operations on or within 50 feet of a railroad.
We hope the you have a better understanding of the meaning of Easement.