The Nature of Real Property.docx - The Nature of Real Property Land o Land and things attached to it are called Real Property o ownership of a tract of

The Nature of Real Property.docx - The Nature of Real...

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The Nature of Real Property Land o Land and things attached to it are called “Real Property” o ownership of a tract of land theoretically includes “air rights” and “subsurface rights” o Air Rights rights with respect to the air space above the surface railroad companies will sell the land above the tracks to other parties so they can build on them air-rights are not violated by airplanes flying at reasonable heights o Subsurface Rights rights to the center of the earth a person owns the minerals that are in the land (oil, gold, silver, etc.) landowners can sell only the land rights and keep the subsurface rights Courts in some states , hold that oil and gas are not owned until they are pumped out of the ground Vegetation o in sale of land, vegetation passes to the buyer of the land, unless expressly excluded from the sale
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  • Spring '08
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