What does an easement refer to in real estate?

An easement in real estate specifically refers to the right to use a portion of another person's property for a defined purpose, such as for access to a road, utility lines, or similar needs. This legal right allows the easement holder to utilize the part of the property specified in the easement agreement, while the property itself remains under the ownership of the original owner. Easements can be permanent or temporary and can be created through various means like grants, agreements, or even by necessity.

To provide context, the other options relate to different concepts in real estate. A legal obligation to maintain property is not accurately captured by the definition of an easement; rather, it pertains to property ownership and upkeep responsibilities. A type of title insurance policy, while important for protecting against issues with property ownership, is not what an easement entails. Lastly, an assessment of property taxes deals with the value determination for taxation purposes and does not relate to the use of another person's property rights. Thus, the definition of an easement as the right to use a part of someone else's property for specific purposes is both precise and essential to understanding property law and real estate transactions.