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With a possessory lien, the lender holds onto the underlying collateral during the term of the loan or agreement until it's paid off in full. Nonpossessory liens give the borrower physical possession of the asset during repayment.
An easement is a nonpossessory right in the land of another. A profit allows the holder to enter on land that he or she does not possess and remove resources from it, as by mining coal or harvesting timber.
Exclusive means that only one party or perhaps a limited number of parties can use that easement. Non-exclusive means that a number of different parties can use the easement. Non-exclusive can also mean that additional parties could be granted the right to use that same easement in the future.
Easements. An easement is a nonpossessory right to use another person's land in some limited way that does not constitute full ownership. The person or legal entity that benefits from the easement has a nonpossessory interest in the other person's land.
Non-exclusive means that a number of different parties can use the easement. Non-exclusive can also mean that additional parties could be granted the right to use that same easement in the future. A common example of a non-exclusive easement is an access or roadway easement in a shopping center.
An easement is defined as the grant of a nonpossessory property interest that grants the easement holder permission to use another person's land.
A right of way is a type of easement or agreement that grants a utility the right to use, access or transit a piece of property ing to the terms of the easement.
Non-exclusive listing agreements also allow a seller to list a home with numerous agents, and they require payment of a commission only to the agent who actually sells the home.