A developer wants to build a parking garage entirely underground beneath a public park. The developer has obtained a long-term lease from the city for the subsurface area only. A nearby resident objects, arguing the developer cannot lease subsurface rights under public land. Which statement is MOST accurate?
Correct Answer
D) The city may lease subsurface rights separately from surface rights because they are divisible interests
Property rights—including surface, subsurface, and air rights—are divisible. A government entity that owns land may lease or convey subsurface rights separately from surface rights, just as private parties can.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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For the Hawaii salesperson state portion, a question compares condominiums, cooperatives, and planned communities. Which statement is correct?
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- → Wisconsin adopted the Marital Property Act in 1986, creating a system similar to community property. Under this law, property acquired during marriage is generally considered:
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