Air rights are the rights to use or develop the space above a piece of property. In real estate, air rights can be a valuable asset, particularly in densely populated urban areas where land is at a premium. You may be surprised that you have rights above your property as well. Air right(s) is something that can be purchased and from which you can make a tidy profit as well depending on the circumstances.
In many locations, it is not unusual for a property owner to purchase the air that is in front of their home so that they can continue to enjoy the view and not worry about obstructions that may be caused by neighbors. Plus, the overall value of their home is also raised because the view is now guaranteed.
A neighbor who might be thinking of building up their property or adding a taller structure that may impede the view from your home now must get your permission first.
Air Rights Can be Purchased
Local Records Office representative will gladly discuss with you the rights that you currently have to your property. This is because once owned, you can sell the air right(s) to your property for a considerable profit if a company is going to construct a structure that impedes these rights.
However, you must know if you actually own them first before you can make the sale. This is why a consultation is important to understand your rights in terms of the property that you currently own.
This is an organization that is dedicated to creating custom reports in regard to the real estate that people own. The Local Records Office will provide records as to the history of transactions to the property, the rights that are currently owned, and the overall value as well.
In this manner, a property owner can fully understand the real value of their property as well. As the details about the surrounding community that you will need to know as well.
The information is gathered from a wide range of sources starting with the local, county, and federal offices. Also, will include a number of topics that range from basic demographics, criminal and foreclosure activity, educational opportunities, and more.
Your local records office is an essential part of understanding the real estate that you own.
What Are Air Rights?
Air right is a type of development right in real estate, referring to the empty space above a property. Generally speaking, owning or renting land or a building gives one the right to use and develop the air right(s).
Airplanes And Air Rights
Unlimited air rights existed when people began owning real estate. It was not something that anyone really concerned themselves with before the 20th century. The first legal limits placed on air rights came about because of the airplane.
Eventually, owners only had rights to airspace that they could reasonably use. It would be impractical for the development of air travel for individual landowners to own all the air above them because airplanes would be constantly trespassing.
Therefore, it appears to trump any individually claimed air right, near airports especially.