Closings glossary
Right of way
An easement granting passage across land. Recorded rights of way run with the property and are listed among the exceptions on a title report.
What is a right of way?
Quick Answer
The full definition
An easement granting passage across land. Recorded rights of way run with the property and are listed among the exceptions on a title report.
Which related terms should you know?
These are the terms that come up alongside right of way in the same file.
- Easement
- A right to use part of another owner's property for a specific purpose. Easements appear as exceptions on a title report and generally survive a sale of the land.
- Covenant
- A recorded promise or restriction that runs with the land and binds future owners. Restrictive covenants limit what the property may be used for or how it may be built on.
- Survey
- A surveyor's drawing of the parcel, its improvements and any encroachments. Lenders on houses and townhouses generally require a current one or a survey inspection.
- Title exception
- A matter the title policy does not insure against, listed on Schedule B. Some exceptions are removed before closing and others are simply accepted by the buyer.
- Appurtenance
- A right or improvement that passes with the property when title transfers, such as an easement benefiting the parcel, a parking right or a fixture attached to the building.
Where does right of way come up in a New York City closing?
A Staten Island lot carries a recorded right of way for the rear neighbor, so the buyer's plan to gate the side yard has to be redrawn.
What else should you read before closing?
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