An easement on a property referred to in a sale is known as what type of property right?

An easement is considered an encumbrance because it involves a right that a third party has to use or restrict the use of a property owned by another. Specifically, an easement allows someone other than the property owner to access or utilize a portion of the property for a particular purpose, such as a right-of-way or utility access. This arrangement impacts the property's value and the owner's bundle of rights associated with it, making it a form of an encumbrance.

In contrast, a license allows temporary use of a property, usually revocable, and does not create a lasting interest like an easement. Tenancy refers to the possession of property by a tenant under a lease agreement, which does not necessarily relate to the rights associated with an easement. Title denotes ownership of property, which contrasts with the concept of an easement as a right held by others, not the property owner. Thus, classifying an easement as an encumbrance accurately reflects its nature in relation to property rights.