Water Rights

AAA

DEFINITION of 'Water Rights'

Water rights are one of the interests that may attach to real estate ownership, and pertain to the rights to use adjacent bodies of water. Riparian rights are awarded to land owners whose property is located along a river, stream or lake. Typically, landowners have the right to use the water as long as such use does not harm upstream or downstream neighbors. In the event the water is a non-navigable waterway, the landowner generally owns the land beneath the water to the exact center of the waterway.

INVESTOPEDIA EXPLAINS 'Water Rights'

Littoral rights pertain to landowners whose land border large, navigable lakes and oceans. Landowners with littoral rights have unrestricted access to the waters but own the land only to the median high-water mark.


After this point, the land is owned by the government. Water rights are appurtenant, meaning they are attached to the land and not to the owner. In other words, if a ocean front property is sold, the new owner gains the littoral rights; the seller relinquishes his or her rights.

RELATED TERMS
  1. Littoral Land

    Land that is located next to a pooled body of water. Littoral ...
  2. Marginal Land

    Arid and generally unhospitable land. Marginal land usually has ...
  3. Land

    Property or real estate, not including buildings or equipment, ...
  4. Like-Kind Property

    Any two assets or properties that are considered to be the same ...
  5. Real Estate

    Land plus anything permanently fixed to it, including buildings, ...
Related Articles
  1. Home & Auto

    Top 8 House-Hunting Mistakes

  2. Home & Auto

    An Introduction To Buying A Condominium

  3. Options & Futures

    Tips For Renting A Vacation House

  4. Taxes

    Vacation Home Or Income-Producing Investment?

Hot Definitions
  1. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  2. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  3. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  4. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  5. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  6. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
Trading Center