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Current Mortgage RatesVariable closed: 1.65% 1 year closed: 1.64% 3 year closed: 1.59% 5 year closed: 1.69% 10 year closed: 2.84% Glossary
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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
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50% - Moderately
50% - Moderately
Aviation Easement
Synonyms: | air traffic, fly zone, right of way |
Filed Under: | legal-contracts, real-estate |
Tags: | contract, legal, realty |
Definition of aviation easement
- aviation easement
- 1. An agreement granting the right to fly airplanes over property, even if doing so causes damage, inconvenience, or loss of property value to the property owner. This type of agreement usually restricts the property owner from building or growing anything over a defined height.

Related Terms and Acronyms:
- adverse possession A means of getting title to land by using it without the objection of the title holder.
- bundle of rights A set of legal rights that an owner has regarding a property.
- current market value (CMV) The estimated price determined by the recent sale of similar properties.
- easement Giving persons other than the owner access to or over a property.
- encroachment An improvement, such as a fence, that illegally extends onto another property or impedes the neighbour's use of that property.
- market value (MV) Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
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