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Questions and Answers
What can happen if a developer retains mineral rights when selling a house?
What can happen if a developer retains mineral rights when selling a house?
- The owner automatically gains rights to any valuable resources found under the house.
- The owner may not have rights to valuable resources found under the house. (correct)
- The owner is responsible for obtaining the mineral rights separately.
- The developer loses the rights to any valuable resources found under the house.
What was the outcome of the city's attempt to obtain water rights from a farmer in Colorado?
What was the outcome of the city's attempt to obtain water rights from a farmer in Colorado?
- The city abandoned the idea of acquiring water rights from the farmer.
- The farmer refused to sell the real estate to the city.
- The farmer retained the water rights despite selling the real estate to the city. (correct)
- The city successfully acquired the water rights along with the real estate.
Why did the city face challenges in acquiring water rights from the farmer in Colorado?
Why did the city face challenges in acquiring water rights from the farmer in Colorado?
- The state laws in Colorado prohibited the sale of water rights to the city.
- The city did not hire an outside attorney to review the transaction. (correct)
- The farmer had legal ownership of the city's water rights.
- The city lacked the financial resources to purchase the water rights.
What lesson can be learned from the story of the city's attempt to acquire water rights from the farmer?
What lesson can be learned from the story of the city's attempt to acquire water rights from the farmer?
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Why are water rights in the western half of the United States particularly valuable?
Why are water rights in the western half of the United States particularly valuable?
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