air rights

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Air Rights

The right to build on, occupy, and/or profit from the air above a piece of real estate. Supposedly, air rights have existed as long as the concept of private property, but it became important in the 20th century as air travel became more common. In the United States, air rights only extend to the amount of air that one may reasonably occupy. As with other aspects of real estate, air rights may be sold, leased, or otherwise acted upon either in conjunction with or separate from the property to which they are attached. See also: Mineral Rights.

air rights

Historically,property owners owned to the center of the earth and to the top of the heavens, which included the right to all the air above the property and the right to exclude trespassers from that air. Until the invention of aircraft, the matter typically arose only in disputes over the right to remove tree limbs extending over one's property. Today, aircraft constantly trespass into property owner's air space and violate their air rights.As an accommodation to modern technology, courts allow reasonable trespasses to air rights. Airports and governments frequently purchase air rights adjacent to an airport,called avigation easements,to provide glide paths for aircraft.(Because of the scarcity of prime real estate near city centers, many local governments are investigating and implementing plans to lease air rights above transit hubs to developers,for building hotels and other such projects.)

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Brazil has 37 years of experience in the design and construction of high-rise buildings, hotels hospitals and air-rights projects with long-span transfer systems.
After several days of negotiations, Councilwoman Jan Perry, chief proponent of the measure, agreed to rewrite it and give the mayor the right to override council approval of air-rights transfers.
There were two air-rights closings: one with MoMA and one with Saint Thomas Episcopal Church.
Mayor Antonio Villaraigosa has vetoed the council's air-rights plan, but only on a technicality.
With under-market leases, a corner location, and significant air-rights, this 51 foot-wide property was highly attractive to retailers, investors, and developers," said Garvin in a statement.