Physical Components of Real Property

When you own land, you don't just own a 2D square on a map. You own a cone shape that starts at the center of the earth and shoots up into space. These components can be separated and sold individually!1. Surface Rights. This is the crust of the earth—the dirt, the grass, and the house sitting on top of it. This is what most people think of when they "buy land."2. Subsurface Rights (Mineral Rights). This is everything below the surface. This includes oil, gas, coal, and minerals. You can sell your land but keep the mineral rights. Example: A farmer sells his farm to a developer but keeps the rights to the oil underneath. If oil is found later, the farmer gets rich, not the developer.3. Air Rights. This is the space above the land. In big cities, this is huge. A developer might buy the "air rights" above a small historic building to build a skyscraper that cantilevers over it. The Limit: The government controls navigable airspace (so you can't stop a Delta flight from flying over your house), but you own the immediate air space needed to use your property.