Check Your Understanding - Answers
- What are the four important rights associated with owning a parcel of real estate?
Right to use
Right to transfer
Right to encumber
Right to exclude
- Land can be laterally divided into what classifications of rights?
Surface rights
Subsurface rights
Air rights
- How are air rights delineated?
By imaginary vertical lines extended to infinity
- What do water rights concern?
The rights to own and use water found in lakes, streams, rivers, and the ocean
