We've been approached by American Electric Power on behalf of the local electric co-op (Carroll County, Ohio) about signing a new easement for power lines. Does anyone have any idea about what is a fair/optimal amount for this? Thanks!
Powerlines easements have to many varibles to consider. Width, length, voltage, value of land. You will need a lawyer that has experience in eminent domain. Try and push the envelope and get a signing bonus from AEP. Just a thought.
We were also just approached by AEP. How did things work out?
where are these properties, exactly? I am curious because I have AEP lines already.
Make sure in any ROW that you limit the ROW to that company only. NO phone, pipelines, cable etc. Any new company must negotiate with and pay you for use. Also make sure they have access/control only to ROW and not any of the rest of your property. We did not allow a row for local electric coop because they would not pay anything and they had vague statements that indicated they could stop activity on our property outside their row that they would not remove.
Excellent points James. In my Ye Olden Gasline agreement (1949) with Tennessee Gas Pipeline Co. the rights include phone and electric lines! Neither of which were ever placed on the row though....but they could yet today as per the agreement signed way back when!