When drafting an easement, it’s important to consider whether the easement in question is intended to be an exclusive easement or a non-exclusive easement. This article will examine the difference between an exclusive easement and a non-exclusive easement.
Exclusive Easements vs. Non-Exclusive Easements
It’s essential to define whether an easement is exclusive or not before drafting it to avoid any confusion in the future. Here are the primary differences between the two types of easements:
- Exclusive Easements can only be used by one party (or a limited number of parties). An example might be a roadway on private property that one property owner allows an adjacent property owner to use to access another area.
- Non-Exclusive Easements can be used by a number of different parties. With non-exclusive easements, additional parties may be granted the right to use the easement in the future as well. A good example of a non-exclusive easement would be a roadway easement in a shopping mall. Private roads within most shopping centers often provide non-exclusive easements to the various retailers in the shopping center development.
Your title insurance company can explain all of these nuances to you and ensure you have everything covered for your property.
Commercial Title Insurance
Commercial title transactions can be complicated. At Commercial Partners Title Company, we do everything we can to make things as simple as possible for you. Our team of real estate professionals has decades of experience working on commercial title transactions in Minnesota and across the United States. We have the knowledge and skill to ensure you have al your bases covered when it comes time to close on your property. Contact us today at our Minneapolis offices to learn more about how we can help with your next commercial transaction.