Neighbor needs money. We need access. We want it for 20? years? How much should we pay, how can this be legally in place if either of us sells, and properties still have this agreement? What’s the longest term for this, and how can it be part of our home’s value if we move in 5 years?
You should pay what it is worth, or whatever you and the seller of the easement can agree upon. The value of the easement depends largely on the value of the property over which it lies and the extent of the impact of the easement on that property. The way the easement is worded, and the rights which it gives you, will have an effect on its value. Nobody can suggest a fair price without knowing all the details, and that is really a job for an appraiser, if you want to be precise about it.
Easements can be permanent, or they can be for a specific number of years, or for a period of time determined by an outside event (eg, if you sell your house). Normally they go with the property (known as an appurtenant easement).
You will need to have the document put together carefully by a lawyer and recorded in the County records.
This comment is general in nature and is not intended as legal advice. It does not create an attorney client relationship and obviously is not confidential. You should contact an attorney in your area who can review with you all of the relevant facts and give you specific legal advice.
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