Water rights is a big part of a property owners estate. A land owners’ water rights depends largely on the state the property is located in, the body of water in question, and the particular legal doctrine the state employs.
Key real estate terms you should know once you’ve completed this video:
(1) Riparian Rights – Rights of a land owner to use waters of an adjacent river or stream
(2) Littoral Rights – Rights of a landowner who’s property borders a lake or the ocean
(3) Doctrine of Prior Appropriation – The first owner or user has the rights to divert water for their use.
Best of luck with your studies…
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P.S. Nothing in this video shall be construed as legal or financial advice and is for INFORMATIONAL purposes only! Please consult with a competent attorney, financial advisor, and your broker before implementing anything you’ve learned from this video. Likewise, the issues discussed herein may not be applicable in your state or local jurisdiction.
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Paul Vojchehoske
Real Estate Exam Prep, Real Estate Principles and Practices, Section 1: Property Ownership