Can you buy air rights in Florida?

Developers can also purchase air rights above public buildings and structures directly from the City of Miami. The vertical space above a low-rise building can be just as valuable as the land beneath the structure.

Do you own the air above your house?

Ownership of airspace is just like ownership of land. The owner can use and enjoy it reasonably. Zoning and other statutes often restrict the height of buildings. Such statutes don’t actually declare the unused airspace to belong to the public, however; they merely restrain the owner’s use of that space.

Do air rights exist?

At the simplest level, the term air rights simply refers to the right to occupy certain empty space. For example, the rights to the navigable airspace over the United States are owned by the public and governed by the Federal Aviation Administration, or FAA. In real estate, air rights are a somewhat different concept.

How do I get air rights?

There are two ways of securing the air rights to a property, which include: Purchasing the property: If a developer wants to build a 72-story building where a 2-story building currently stands, they can buy that building, knock it down, and build a new structure that maximizes the air space how they want to.

Are there any air rights over public property?

Although most air rights agreements involve air space over privately owned railroads conveyed to privately sponsored improvements, some projects include public as well as private property. In Cambridge, Massachusetts, the air rights over a publicly owned parking lot were sold for the construction of a privately owned motel.

What are the advantages of using air rights?

The exploitation of air rights reflects the advantages inherent in such dual-purpose land development. Some have already been mentioned, such as the recapture of land lost to tracks and pavement for other uses. There are also other advantages for such developments both to the municipality and to the private land owner and developer.

How much does the city get for air rights?

The City shares in the gross receipts of the operation, up to 52 per cent of all revenue over $150,000, and receives title to the deck after the expiration of the 25-year lease. Another example, the Santa Cruz, California, development, includes the sale of air rights for commercial development over city-owned parking lots.

Where does the idea of air rights come from?

In principle, air rights go back to early English common law, with its basis in the Latin legal maxim: cujus est solum ejus est usque ad coelum et ad inferos — to whomever the soil belongs, he also owns to the sky and to the depths.