Exam 3: The Scope of Real Property

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Under the prior appropriation theory, the first person to appropriate water for a beneficial use has priority over later users.

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Goodman and Davis live in an area of New York City in which there is a 20-story limit on buildings.Goodman owns a 12-story building.Davis wishes to build a 26-story building.Goodman wants to sell Davis a portion of his unused air rights.The air rights being sold in this scenario are called:

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