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The Value of Property Location

When looking for that perfect dream property one of the first things to investigate is its location. Before investing in rural property consider things like distance from an International Airport. Or how far are you from medical services? How far is basic shopping? And neighboring property ownership, who are your neighbors? Are there utilities to the property?

These are a few of the basic factors to take into consideration when purchasing unique rural type real estate. Sometimes it is necessary to alter your criteria a little and find a property that is in a good location and meets more of the above criteria rather than gamble on an exceptional piece of property that is so remote it doesn’t conform to these standards or guidelines. You will find you might pay a little more for the property when you initially buy it but when you go to sell it there is a greater likelihood of profiting from this investment.

These are items we at FarWest help research and work with you, the buyers and sellers, whether you are purchasing a property or looking to sell a unique piece of property. We start by identifying your criteria and working from there in finding locations that have the qualities you are looking for and by the same token as a seller we use these same qualities to help sell your one-of-a-kind property.

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Access Issues

Access rights are extremely important when assessing the issues involved with the purchase of any property especially larger parcels. Permanent, legal, transferable access is imperative! Usually the title report will indicate what kind of access you have.

Deeded insurable access is the ideal access. This is access that is specifically described, surveyed, or follows an existing road. I’ve seen access or easements through neighboring properties that have been recorded that are not specifically described or surveyed, not get title insurance. This will prevent a buyer from acquiring property using a conventional, FHA, or VA loan, but won’t necessarily prevent the close of escrow.

You may not have insurable access but you can record an un-described or un-surveyed easement for access that runs with the property similar to a prescriptive access on an existing road especially if it has been recorded previously. Sometimes an access fee is necessary for a permit if dealing with government agencies such as the BLM or Forest Service, the State, etc. These fees need to be transferrable to future owners.

A good informed experienced agent can help you navigate through these issues.

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Easements Issues & Disputes

An easement is a non-possessory interest in and right to use the land of another.  Generally, easements are granted for very specific and limited purposes.  Examples of easements include:

  • Utility Easements;
  • Drainage Easements;
  • Right-of-Way Easements;
  • Sidewalk Easements;
  • Beach Access Easements;
  • Solar Easements; and
  • Conservation Easements.

EASEMENTS IN NEVADA:

[ruralroad] Easements are either appurtenant or in gross.  An easement appurtenant benefits adjoining property and runs with the land.  This means that the easement continues to exist regardless of who owns the land which benefits from the easement.

An easement in gross typically benefits a specific person and terminates upon that person’s death.  Easements in gross cannot be sold, assigned or inherited unless specifically set forth in the easement agreement.

HOW EASEMENTS ARE ESTABLISHED IN NEVADA:

Easements are either express or implied.  An express easement is created by deed, contract, or other written instrument which specifies the location and dimensions of the easement as well as the permitted use or uses of the easement and who may use it.

Easements may also be implied from the actions of the parties and the circumstances surrounding the transaction.  There are several kinds of implied easements:

Easements By Implication – Under Nevada law, an implied easement, also known as an easement by implication, will be found if two elements are proven:

  1. Extreme necessity for the easement; and
  2. An intention on the part of the parties, based on the circumstances surrounding the transaction, to create an easement.

Easements By Necessity – An easement by necessity will be found to exist if there was common ownership between the dominant estate (the land that benefits from the easement) and the servient estate (the land that is burdened by the easement) and the necessity for the easement existed at the time of severance of the common ownership.

Easements By Prescription – An easement by prescription may be proven by showing five years of continuing, adverse, open, and peaceable use of the land over which the easement is claimed.

EASEMENT ISSUES AND DISPUTES:

Easement issues frequently arise because of poorly drafted easement agreements.  If an easement agreement is vague, ambiguous, or unclear, the parties often find themselves at odds over their rights and obligations.  Such disputes typically involve allegations of misuse or interference.

Other easement disputes may involve:

  • Abandonment;
  • Trespass;
  • Encroachments; and
  • Termination.

SOURCE:  http://www.realestatelawyers.com/resources/real-estate/land-use-zoning/nevada-easement-law.htm