Easement

A legal right for someone other than the property owner to use part of the land for a specific purpose.

Common easements: utility easements (power, water, sewer, cable companies have a right-of-way through your lot), access easements (a neighbor's driveway crosses your land), and conservation easements (some land is restricted from development). Easements show up on the title commitment — read the legal description. Most are benign and don't affect value. Watch for easements that limit construction (you can't build over a sewer easement) or that grant ongoing access to specific parties (could create tenant friction).