no law explains this concept ,now do they????
i tried findind the answer but 2 vein!!!
2006-10-05 21:31:29 · 9 answers · asked by Anonymous in Education & Reference ➔ Higher Education (University +)
Won't go into mineral rights.
You can't own land !!!
You can rent it from the government!
Only the government can own land!!
If I'm wrong why do you pay taxes on it???
If you owned it you would pay taxes on it once at purchase time, and never again. Like a car!
2006-10-05 21:39:18 · answer #1 · answered by Anonymous · 2⤊ 0⤋
As Mr baughwawn has stated you are not the the outright owner of the land though the deeds may say so.The government is the ultimate owner,Other than the top soil you can extract only water.Treasures,minerals,oil, etc... are the Govt's.
There must be some rules how far down you can go for foundation excavation and for bore wells in search of water.
2006-10-05 21:58:43 · answer #2 · answered by balaGraju 5 · 0⤊ 0⤋
Im almost positive you only own the land to a certain depth. I was told this years and years ago by a surveyor friend of mine. I dont know exactly to what depth, but I am certain you do not own it right down to the center of the earth.
In fact if that was the case, how would underground systems work as they snake their way underneath thousands of properties? I dont see them getting additional rent.
2006-10-05 21:40:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Do a Title Search on the land and see if the oil, mineral or other ground rights below a certain depth were given away in the past.
2006-10-05 21:36:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Real Estate - Land; a portion of the earth's surface extending downward to the center of the earth and upward infinitely into space, including all things permanently attached to it, whether naturally or artificially.
Although one can convey oil rights..etc.
2006-10-05 21:47:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If it has some natural resource like diamonds, oil and precious stone then the land is taken over by govt. or else you will ahve to lease it to any private company who is involved in this business or else you will have to take license to dig it.
Without any thing such you own it till 300 meters or depth required to build base for a building.
2006-10-05 22:05:36 · answer #6 · answered by archana3k1 4 · 0⤊ 0⤋
you can only own it to a certain point below the top soil, after that the taxes are hell. haha
I kill me!
2006-10-05 21:34:08 · answer #7 · answered by ~brigit~ 5 · 1⤊ 0⤋
Yeah you do.
Think of all the rock you own :-D
2006-10-05 21:39:41 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yep
2006-10-05 21:33:37 · answer #9 · answered by Dr Dee 7 · 0⤊ 0⤋