I am looking at 10 acres of landlocked property in an area that is bringing about $7,000 an acre. This being landlocked, how much do you think it would reduce the value?

-Terry

Property that lacks road frontage or clearly defined public access requires an easement for access. In this situation, this would most likely be an easement appurtenant; ingress/egress for the landlocked property across one or more of the adjoining properties would run with the land. This means that this agreement for access will remain with both parcels regardless of ownership. It is absolutely critical that any easement be adequately defined both physically and legally; litigation is usually the result of poorly prepared agreements. As far as impacting the value, that answer will vary depending on a myriad of factors, but suffice it to say that easements are not unusual or necessarily adverse provided they are clearly delineated and understood by all parties.

Hank Miller is a Real Estate Broker for Prudential Georgia Realty in the north Metro Atlanta area.