Landlocked

What is Landlocked?

In terms of Real Estate, landlocked area can be defined as the piece of Land that is not accessible through the main road, but you could access it via the adjacent lot. For example, an empty place that is located right behind the strip mall can only be accessed through the mall rather than the main road.

Landlocked refers to the division of a large area into smaller slots. Now, these subdivisions act as the individual slots. If you see it from the national point of view, then a landlocked country can be defined as the region that is locked up or surrounded by multiple countries. Now, the only way for people to get in and out of the country is through the other countries that surround this nation. You can’t enter or exit the country through the sea or by any other means for that matter.

Common Issues with the Landlocked Property

As mentioned above, the landlocked property is a piece of land that is not connected to the public street. Simply put, it can’t be accessed through the main road. In order to get in and out of this slot, you are supposed to pass the property that surrounds this restricted area. The landlocked area can become accessible for the public through the streets by getting the easement.

Since it restricts public access to the property, the owner of the landlocked slots often struggles to sell the property or obtain a loan for the same. A common example of landlocked properties is the subdivision of the property owned by a family between each member. When it comes to selling the property, you may want to divide the land among the family member to give each member a right to a specific portion of the property. You don’t face access issues to the property as long as the property is owned by the family. However, the issues arise when the ownership title of the real estate is transferred to different parties.

How to get Easement?

It goes without saying that the landlocked property does not have the same value as its surrounding slot. That’s because this area is inaccessible to the public. Of course, that does not mean these inaccessible areas are worthless. The only problem with the landlocked slot is that banks and financial institutions are not willing to pass the loan application for the development and renovation of this area. The reason is simple – the landlocked property cannot be used for public services since it is not accessible through the main streets.

As mentioned above, the only solution to the landlocked property is the easement. You can gain rights to get your property accessible to the public through the easement. The easiest way to get the easement is by negotiating the terms with the owner of the surrounding area. Make sure you sign the contract in which the owner of the surrounding property agrees to allow people to cross their building to access the landlocked property.