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. Like-Kind Property

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

    Land plus anything permanently fixed to it, including buildings, ...
  5. Land

    Property or real estate, not including buildings or equipment, ...
Related Articles
  1. Top 8 House-Hunting Mistakes
    Home & Auto

    Top 8 House-Hunting Mistakes

  2. An Introduction To Buying A Condominium
    Home & Auto

    An Introduction To Buying A Condominium

  3. Tips For Renting A Vacation House
    Options & Futures

    Tips For Renting A Vacation House

  4. Vacation Home Or Income-Producing Investment?
    Taxes

    Vacation Home Or Income-Producing Investment?

comments powered by Disqus
Hot Definitions
  1. Debit Spread

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

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  3. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  4. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  5. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  6. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
Trading Center