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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These air rights could then be shifted from the initial heritage property to another location through a process known as the transfer of development rights (TDR).
It's still unclear how the deluge will affect the air rights market in the district.
So the board felt that instead of continuously getting these delays by trying to get some agreement with the park district, it would be best to just go off and build something that we know complies with the air rights.
Lago released a memo stating that 90 percent of the available air rights in the district have already been transferred.
Air rights may be divided into separate units of real property created by the horizontal subdivision of real estate.
According to the company, its subsidiary has received an offer to purchase two-thirds of the air rights over the building for USD8.
Mao pointed out that the number of tourist arrivals to Taiwan will grow further this year, thanks to the new air rights, increased flights, and the expansion of the sources of Chinese free individual travelers to 11 cities.
He also concluded that the air rights to 192 Broadway could not be transferred because there was no zoning lot merger as of the vesting date.
A former Prospect Heights property owner is claiming to own the air rights to a part of the site where Bruce Ratner plans to build his new Nets arena and is suing the state for trying to "steal" it.
Mayor Antonio Villaraigosa will have the power to veto transfers of air rights downtown under a compromise plan announced Tuesday that will allow developers to buy unused air space over the Los Angeles Convention Center.
The city has since reinstated the permit, which it revoked July 12 over air rights above Garland Street, which runs behind the former foundation building and the DoubleTree.
Air rights represent the difference between a theater building's actual size and the size allowed under Gotham zoning regulations.