Learn the basics of buying and selling water rights. It can often be difficult to determine a water right price, but this video makes it easier to understand the value of water rights.Â
Presenters are Laura Schroeder and Catherine Hansford with Therese Ure as moderator.
In this video, Laura and Catherine give an overview of the basic information to know when buying and selling water rights. Understanding components of water rights help explain how they may add value to a home, farm, or commercial operation. Elements of water rights include the location, surface water versus groundwater, type of use, place of use, and many more. Understanding these components when selling can assist in getting the most value for your water right. Similarly, knowing what you need in a water right when purchasing can save you a lot of time and money.Â
Laura and Catherine review specific components of water rights and how they can greatly influence the value. Priority, or the date of the water right, is arguably the most important element of a water right. They earlier the date of the right, the more likely it will be able to fulfill it’s full amount in situations of scarcity.
As well as the legal factors that influence water right value, Laura and Catherine speak on the economic factors. This includes the review of water markets and how they affect the value of water rights. Water markets are influenced by the demand in a certain area, the possibility of growth, and scarcity issues. There are also possible factors such as public versus private water use and environmental considerations.Â
This video will give you a brief overview of how to evaluate water rights to better understand the value of buying and selling water rights.Â
Click here to go to our webinars page and view more free videos about water rights topics and issues.Â
