Land Rights (overview)

Question 1

What does land refer to?

Answer 1

The surface of the earth and items attached by nature

Question 2

Real estate includes ___ and ________ improvements

Answer 2

land and all human-made improvements

Human-made improvements can include buildings, roads, and other structures.

Question 3

Real property includes ____ plus _____

Answer 3

real estate plus the bundle of legal rights

The bundle of legal rights refers to the rights of ownership, use, and enjoyment of the property.

Question 4

What are the three physical components (rights) of land?

Answer 4

surface, subsurface, air

Question 5

What are subsurface rights? What are they referred to as?

Answer 5

An owner’s rights to underground minerals, petroleum, and natural gas; referred to as mineral rights

Question 6

What are air rights?

Answer 6

Air rights involve the space above a tract, extending up to a height established by law

Question 7

Is it possible in a sale of real property that the seller maintains the air rights connected to the property, if both parties agree?

Answer 7

yes