Utah water rights are separate from land ownership. When purchasing property with water rights in Utah, what must a buyer verify?
Correct Answer
B) That the water rights are properly documented with the Utah Division of Water Rights and will be conveyed with the property
In Utah, water rights are real property that can be bought, sold, and transferred separately from land. Buyers should verify that water rights are documented with the Utah Division of Water Rights, confirm the type and quantity of water right, and ensure the rights will be conveyed in the transaction. Unperfected or abandoned water rights may have no value.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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.
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