What is an easement?

An easement is correctly defined as the right of one property owner to use the property of another. This legal concept is essential in real estate as it allows individuals or entities to benefit from access or usage of land that they do not own, thus facilitating various types of arrangements and requirements between different property owners.

Easements can serve numerous purposes, such as granting utility companies the right to install and maintain power lines across a property or allowing neighboring landowners access to a shared road. The key characteristic of an easement is that it does not confer ownership of the property; rather, it provides a specific right of use that is typically recorded in property documents, thus adding a layer of predictability and legality to the property rights in question.

The other options provided would not accurately describe the nature of an easement. For instance, a type of property lease agreement pertains to the renting of property rather than the right to use someone else’s land, a contract for the sale of property involves the transfer of ownership rather than usage rights, and a zoning restriction imposed by local government relates to land use regulations and does not involve any direct personal rights over property owned by others. This distinction underlines the unique function of easements within real estate law.