Which of the following statements is true regarding easements?

Easements are indeed a form of encumbrance on property, meaning they affect the rights and usage of the property but do not affect ownership. They allow one party to use a portion of another party's property for a specified purpose, such as access or utility installation, while the underlying ownership remains unchanged. Unlike a lien, which represents a legal right or interest that a lender has in another's property, easements do not grant a financial claim against the property. This distinction underscores the importance of understanding easements as tools for property use rather than financial encumbrances.

The other options reflect misconceptions about easements. Some may incorrectly assume that easements are always temporary or can be transformed into lease agreements, but they are typically permanent, lasting until the purpose is fulfilled or the parties agree otherwise. Additionally, easements apply to both residential and commercial properties, not exclusively to the latter. Therefore, the statement regarding easements as a form of encumbrance but not a lien is the most accurate.