In the many complex legal cases connected to business, “running with the land” is an important concept to know. “Running with the land” refers to the legal doctrine that certain rights, obligations, and restrictions are attached to a property regardless of who owns it. These rights, obligations, and restrictions continue to travel with the land over time and ownership.
One common example of this legal doctrine is that of mineral rights. Anytime someone purchases a parcel of land, they are purchasing the rights to the minerals that are located within. This right is controlled by the city or county and is part of ‘running with the land.’ It means that the minerals are not tracked by the individual, but stay with that piece of land throughout the years regardless of ownership.
Understanding Easements and Rights of Way
One of the most common present-day uses of “running with the land” is understanding easements and rights of way. An easement is the legal right for an individual to access a piece of property in order to use it for a specific purpose, while a right of way allows access to a property for unlimited use, such as building roads and highways. These rights, whether an easement or right of way, travel with the land over time, and as ownership of the land changes, the rights stay intact.
This is important for business professionals to understand when entering into land purchases, contracts, or other agreements. Knowing what rights are attached to a piece of land is important to avoiding any disputes or legal predicaments down the line.
Keep ‘Running With the Land’ in Mind
Business professionals should keep ‘running with the land’ in the back of their minds when it comes to real estate transactions and land purchases, in order to avoid any future legal complications. With an understanding of what rights stay with a piece of land and how they can transfer, business professionals can make sure they are accounted for in their contracts and agreements.