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"Appurtenance" is a term used in real estate to describe something that is attached to or connected with a property and is considered part of the property when it is sold.
Appurtenances can be physical, like a garage, shed, or fence, or they can be legal rights, such as an easement allowing access to a neighbor's land. When a property is bought or sold, appurtenances usually transfer with the property to the new owner.
"A Deep Dive for Real Estate Agents and Appraisers"
Understanding appurtenance in real estate is essential because it can impact property value and legal rights.
Type of Appurtenance: Appurtenances can be both physical and non-physical. Physical examples include a garage, a shed, or a swimming pool. Non-physical examples could be an easement right (the right to cross or use someone else's property for a specified purpose), air rights (the right to control, occupy, or use the vertical space above a property), or mineral rights (the right to extract minerals from the land).
Value: Appurtenances can significantly impact a property's value. For instance, a house with an attached garage or a mature, well-maintained garden could be more valuable than one without these features.
Legal Considerations: In some instances, appurtenances can lead to legal disputes, especially when they're not explicitly defined in the property deed. That's why it's crucial to have all appurtenances listed in the sale agreement when buying or selling a property.
Transfer of Rights: Rights to appurtenances are typically transferred with the property when sold. If the seller wishes to exclude certain appurtenances from the sale, this should be stated clearly in the sales contract.
Appurtenant vs. In Gross: An 'appurtenance' (or 'appurtenant easement') is tied to the land, not the owner, and passes with the land when sold. This is different from an 'easement in gross,' which is personal to the individual and does not pass with the land.
Knowing these details can help you as a real estate agent or appraiser to more accurately assess property value and provide better service to your clients.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the land of real estate, a word you'll want to know,
Appurtenance, it is called, with properties it goes.
It can be a garage or shed, or even legal rights,
Attached to a property, and transferred without fights.
So when you study real estate, and terms you'll need to learn,
Remember appurtenance, for it goes with properties' turn!