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  1. #1

    Angry How to Determine the Fair Market Value of an Easement

    My question involves an easement in the state of Washington. When we purchased our home in 2004 from the sellers
    (Our current neighbors) they had a driveway dividing our property in 2. In our purchase agreement, we had it added the buyers would agree to move the driveway but no specific timeframe was put in place. They currently have their house listed for sale & we felt the need to protect ourselves as owners of the property their driveway lies on. We'd like to find the best way to do so- either by determining fair market value for the easement square footage or have them move the driveway to the far side of our property (though regardless it would still be an easement)

    What would be the best way to do so? Neither they nor their real estate agent have contacted us about this matter though both are quite obviously aware of it.

  2. #2
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Easements- Fair Market Value

    Quote Quoting Schmidthouse
    View Post
    My question involves an easement in the state of Washington. When we purchased our home in 2004 from the sellers
    (Our current neighbors) they had a driveway dividing our property in 2. In our purchase agreement, we had it added the buyers would agree to move the driveway but no specific timeframe was put in place. They currently have their house listed for sale & we felt the need to protect ourselves as owners of the property their driveway lies on. We'd like to find the best way to do so- either by determining fair market value for the easement square footage or have them move the driveway to the far side of our property (though regardless it would still be an easement)

    What would be the best way to do so? Neither they nor their real estate agent have contacted us about this matter though both are quite obviously aware of it.
    Did you mean to say that the sellers would move the driveway? I ask because you were the buyers in that instance so if the buyers had to move the driveway that would be you.

  3. #3

    Default Re: Easements- Fair Market Value

    Sorry. I see how that would be misinterpreted. In our original contract the driveway was supposed to be moved by the people who sold us our house (also our next door neighbors). They currently have had their house listed for sale , the driveway/easement was never moved & if they sell, does our agreement become void? Or would we have to draft something up with the new owners, either as a right of way/easement agreement (complete with either a one-time payment for the square footage or annual payment?) or have them move the easement to the far end of our property (so it at least would not be split in half)?

  4. #4
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: How to Determine the Fair Market Value of an Easement

    You should consult a lawyer about the court issuing an injunction prohibiting the sale until they perform.

  5. #5
    Join Date
    Oct 2007
    Location
    Ohio
    Posts
    2,592

    Default Re: How to Determine the Fair Market Value of an Easement

    For starters, you should notify the listing realtor in writing of the encumbrance you are claiming on the adjoining property. It needs to be a part of any disclosure to a prospective buyer if valid.

    Apparently you still need to decide what your hoped-for outcome is in this situation. You should be discussing this with a local attorney in the near future.

  6. #6

    Default Re: How to Determine the Fair Market Value of an Easement

    If my spouse had listened to me in the first place.... It would have been done ages ago. C'est la vie. Thank you for the advice I pretty much knew was coming all along.

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