What does permanent access refer to in real estate terms?

Permanent access in real estate terms typically refers to a long-term right of way that ensures ongoing access to a property, particularly in relation to essential routes such as roads and highways. This kind of access is crucial for maintaining connectivity, allowing for uninterrupted movement to and from a property.

In the context of option B, access from a subdivision to major highways illustrates a permanent and essential connection, facilitating transport and promoting property value by connecting residents to larger transportation networks. This type of access is foundational for developments, as it determines how easy it is for residents and visitors to reach the property and its surroundings.

The other options do not align with the concept of permanent access: access that can be revoked at any time does not provide the security or assurance needed for reliable property use; limited pedestrian access restricts the usability and connectivity of the property; and access that requires a yearly fee suggests a conditional arrangement, which contrasts with the notion of permanence and assured access that characterizes permanent access.