Loan Officer Practice Exam 2025 – Comprehensive All-in-One Guide for Exam Success!

The type of easement that allows Jacob and Jeremy to share a driveway and maintain costs is an easement by agreement. This is a mutual understanding between the parties involved, which outlines the terms of using the driveway, including maintenance responsibilities and shared costs. An easement by agreement is a proactive arrangement that ensures both parties have a clearly defined right to use the property in a specified manner, thus avoiding potential disputes.

Easement by necessity applies when one party requires access to a property and has no other means of doing so, typically involving circumstances where a landlocked parcel needs a path to a road. Easement by prescription necessitates continuous and open use of a property without the permission of the owner for a statutory period. Easement by implication arises when there is an apparent and continuous use that was intended to benefit one party, often inferred from the situation of the properties at the time of the transfer. In this scenario, as Jacob and Jeremy are actively agreeing and formalizing their shared use and cost-sharing for the driveway, an easement by agreement is the most fitting choice.