i was about to close on a property in rock stream,ny until my attorney noted
the property was encumbered by a Perpetual Easement from a prominent gas/oil company.
it is a property i planned to live on not develop
the easemant allows for a road to be cut through,across the property at no specified location
and at no specific future date-----my guess soon as owners bailed quickly-
the road norm is 75 feet wide which i still own need to insure and pay taxes on
with only 360 foot of frontage this would be a disaster to live next to.
the lawyers are trying to get a release from the gas company i hold little hope
they paid for it and need it to get to a gas lease on a landlocked piece behind my property and several others- i do not blame them
has anyone had experience with cancelling a signed real estate contract with
such an undisclosed impediment-i.e., title defect?