How is an easement defined in real estate?

An easement in real estate is defined as an authorized physical restriction on a property's use. It grants a party the right to use a portion of another party's property for a specific purpose without transferring ownership. For example, a common type of easement is a right-of-way, which allows someone to pass through a property to access another location.

This concept is important because it distinguishes easements from full ownership, which encompasses complete control over a property. Unlike a lease, which involves a temporary arrangement and typically conveys exclusive possession to the tenant for a set period, an easement does not grant exclusive use and is designed to be more permanent. Additionally, easements are not related to partnership agreements, which involve a collaborative business relationship among parties rather than a right to use land. Understanding this definition is crucial for anyone studying real estate, as it relates to property rights and land use scenarios.