The answer likely depends on the language of the contract.
Most realtor form contracts contain language permitting one to cancel if the land cannot be conveyed with "marketable title". An easement likely means that title is not marketable (some attorneys confuse insurable title with marketable title - they are two different concepts). There also may language regarding easements or other "encumbrances".
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I agree with Mr. Millar. The answer to your question depends upon the terms of the contract. However, assuming you are "out of contract because [you] didn't sign an additional extension", the sale may already be cancelled. You should have a local attorney review your contract.
Steven J. Willock has been licensed to practice law in California since 2000. The information presented here is general in nature and is not intended, nor should be construed, as legal advice for a particular case. This Avvo.com posting does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult with your own attorney.