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Real Estate

What Is Land?

admin 2019.03.02 18:52 Views : 68

What Is Land?

Land is more than just the surface of the earth. When you own land, you own from the center of the earth outward to infinity. There can be three separate owners of a piece of land. One could own the subsurface (mineral) rights, one the surface rights, and another the air rights. While we own the rights to our property, the government also has certain rights in our land. For example, one such right is to fly an airplane over our property without asking our permission. Other government rights will be discussed later in this section.

Real Estate includes:

 

  1. Land plus appurtenances, such as the rights, privileges, and improvements that belong to, and pass with, the transfer of property;
  2. Man-made appurtenances, such as houses, fences, barns, and swimming pools - in other words, items that have been "added" to the real estate;
  3. Natural appurtenances are things like trees, creeks, and streams;
  4. Air rights, gas rights, solar rights, light and sound rights, mineral rights, and surface rights. Air, surface and subsurface rights can each be sold or not sold separately ("I will sell you the 'mineral rights' to my land."); and
  5. Water rights, such as littoral and riparian rights, and prior appropriation.