Many people never consider the impact that water rights have on the value of a property. When you buy a piece of property, you want to know that you own it without any restrictions. However, sometimes the water rights can belong to someone else.
Water rights represent the legal right to use the physical supply of the water. This can include the ground water underneath the property, as well as any surface water. When you have water rights you can use the water, but it does not mean that you own the water itself. The real estate value of a piece of property could be affected by the water rights. If you do not have the water rights with a piece of property, the value of that property will go down. Stein & Brockmann, P.A. has the experience necessary to aid in all water related issues associated with the purchase of a home or the ongoing ownership of a home, including;
- Water rights audits
- Domestic well applications and documentation
- State Engineer compliance matters
- Water rights acquisitions
- Water rights transfers
- Water conservation planning