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Xcel is proposing to pay for a permanent 15 foot easement on

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property. What should we...
Xcel is proposing to pay for a permanent 15 foot easement on property. What should we watch out for about a transaction like this? Thank you, Vic
Submitted: 1 year ago.Category: Real Estate Law
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Answered in 4 minutes by:
9/15/2016
Real Estate Lawyer: Gerald-Esquire, Lawyer replied 1 year ago
Gerald-Esquire
Category: Real Estate Law
Satisfied Customers: 4,560
Experience: 30 years of experience.
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Hello,
Thank you for using Just Answer. Please bear with me as I verify somethings for you. I will respond fully shortly. Thank you for your patience

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Real Estate Lawyer: Gerald-Esquire, Lawyer replied 1 year ago

Hello,

Thank you for your patience and thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

Once you sign the easement it is permanent. You can not withdrawal your agreement to it or un do it. So you must be prepared to live with the easement as long as the property is yours.

You still own the property, so you are still obligated to pay the taxes on it.

You can and should negotiate to have xcel responsible for the maintenance of the land where the easement runs, at least in regard to any problems caused by their use of your property.

Generally you will receive a one time payment for the easement. You can if you desire have the payment made in installments, but financially you are probably better off taking the lump sum and investing it.

Please note that depending on the use xcel puts your property to you may have a decrease in the value of your overall property. You should have an appraiser give you an assessment o that so that you make sure that loss of value is calculated into the payment.

finally you want xcel to indemnify you for any harm their use of the easement may cause to third parties. You do not want to be liable for any damage caused to another because of their use of your land.

I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow up questions, feel free to ask. Please note that I am generally unavailable Friday evening through Sunday.

Please do not forget to give me a positive rating. It adds nothing to your costs but it helps me greatly. Thank you.

If you are dissatisfied with my response PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you and only ask the same from you.

Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.

Kind regards,

Gerald

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