Servient Estate
Definition of "Servient estate"
As the term “servient” comes from the root word “serve” and to serve means to perform a duty or a service for another entity, its meaning is easy to define. The term servient estate refers to an estate or property that is subject to being used for the benefit of another property. These benefits can come in the form of easements, rights of way, or rights of access. These rights are granted by law and are passed through purchasing contracts.
How does a Servient Estate work?
Upon purchasing a property, the contract can specify that there is an easement across the lot. This means that another property owner has the legal right to use part of the property to access their property. In this case, the property that grants access is the servient estate, while the property being granted access is the dominant estate.
When an easement is specified and granted in a contract, it gives the easement owner a nonpossessory interest in another property. The easement owner is the owner of the dominant estate, while the one required to allow the easement is the owner of the servient estate. There are different types of easements, from those that would enable the use of someone else’s land to those that limit the servient estate owners from blocking access to view or sunlight. Important to note that the servient estate owner can use the land or property in any way they want as long as they don’t limit the dominant estate owner’s easement on that land.
When purchasing a property, it is essential to know if it is a servient estate. For this, one should check for easements because if there is a dominant estate with only one access to the beach, which is by the servient house, it can impact the property’s price. Usually, suppose there is an easement on the property that makes it a servient estate. In that case, the price should be lowered because it may limit the owner’s privacy and give the dominant estate owner nonpossessory interest in the servient estate.
Popular Real Estate Terms
Predetermined price for a contract that will be the same irrespective of the actual costs incurred to complete it. This contract is advantageous to the buyer because he knows beforehand ...
Also called earnest money. Money deposited with an individual for security for the performance so some contract. This is intended to show his/her willingness to follow through with the ...
The definition of property acquisition cost in real estate is the total recorded cost of a piece of real estate after reductions in price, incentives, closing costs and any other ...
Stated rate of interest on the face amount of a loan or installment note. ...
Location Analysis is the appraisal of a general geographic area for a particular use. A Residential Real Estate Market professional (or consumer) rarely deals with a Location Analysis ...
Process determining an individual's financial ability to meet the terms of a loan. When selling real estate, the sales broker must qualify the buyer to make certain he/ she has the ...
Thin wood that is shaped in a wedge and laid together in rows. An example is a roof on a house. ...
Generally, a statute of frauds means a legal provision outlining that essential contracts, vulnerable to misrepresentation, must be fixed in a written form to be enforceable. Although ...
Percentage of a geographic location's population to the number of persons employable by a basic industry in that area. A basic industry is one that draws income from outside the locality ...
Have a question or comment?
We're here to help.