An easement is the legal right or privilege of a second party to cross, make limited use of, or apply certain restrictions to another party's property. Easements commonly concern the maintenance of utilities infrastructure or public rights-of-way. For instance, PG&E might retain the right to enter your yard in order to repair power lines, or community members might be permitted to use a pathway cutting through your property. Generally, easements remain with the land, regardless of the owner. If there is an easement associated with your property, it will be noted on your property's certificate of title.

Some owners of historic houses have another, less common type of easement connected to their properties: a preservation easement. A preservation easement may apply to particular designated historic properties and usually limits the changes that owners may make to the structure's façade. However, easements can sometimes pertain to grounds or interior features.

Attaching a preservation easement to your home means donating limited property rights to an historic preservation or government organization. Once these rights are handed over, you or any future owner would have to seek approval from the party entrusted with the easement before making modifications to the property. Preservation easements, like other kinds of easements, remain with the property, even if it changes hands, and are always indicated on the title deed.

There can be considerable tax benefits associated with preservation easements. However, be sure to discuss these benefits with an experienced professional tax advisor before making any decisions. Not all properties qualify for a preservation easement or are eligible for associated tax benefits.