Ingrid is purchasing a lakefront property in northern Minnesota. Her real estate agent mentions that the property's lot line extends to the ordinary high water mark of the lake. What does this mean for Ingrid's ownership rights regarding the lakebed?
Correct Answer
A) Ingrid owns the land up to the ordinary high water mark, and the state owns the lakebed below that mark on a public water
In Minnesota, for lakes classified as public waters, the state holds title to the lakebed below the ordinary high water mark (OHWM). A riparian landowner's property boundary typically extends to the OHWM, not into the lakebed. This means Ingrid owns the upland property to the OHWM, but the state owns the lakebed beneath the public water. This is established under Minnesota's public waters law (Minn. Stat. Ch. 103G) and the public trust doctrine.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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