Water Rights in Commercial Real Estate Sales: Jurisdictional Differences, Due Diligence Requirements, Key Provisions
A live 90-minute premium CLE video webinar with interactive Q&A
This CLE webinar will examine the importance of performing water rights due diligence in commercial real estate sales transactions. The panel will look at key water rights doctrines and how these are implemented in various jurisdictions. The panel will address jurisdictional differences, looking at a sampling of states, and how these impact due diligence considerations. The panel will also discuss key provisions related to water rights to include in the purchase agreement.
Outline
- Introduction: the importance of water rights in commercial real estate transactions
- Water rights doctrines and due diligence impact
- Riparian
- Appropriation
- Littoral
- Groundwater
- Due diligence considerations
- Water rights conveyed as part of the transaction
- Sufficiency of water supply
- Regulatory concerns, permitting, certifications
- Surveys
- Title
- Transferability and limitations
- Other
- Key contractual provisions
- Practitioner takeaways
Benefits
The panel will review these and other important issues:
- Why should counsel prioritize water rights due diligence in commercial real estate sales transactions?
- What are the main categories of water rights? How do these impact the type of due diligence to be conducted based on jurisdiction?
- What are important issues to be considered when performing due diligence related to water rights?
- What key provisions related to water rights should be included in the purchase agreement?
Faculty
Marisa N. Bocci
Partner
Arnold & Porter
Ms. Bocci is part of the firm’s Real Estate practice. She advises asset managers and institutional investors... | Read More
Ms. Bocci is part of the firm’s Real Estate practice. She advises asset managers and institutional investors on direct investments, co-investments, joint ventures, and other strategies related to tangible assets across various sectors. Ms. Bocci also guides corporate and nonprofit clients with their real estate needs, assisting in assembling and managing their real estate facilities. She handles a variety of real estate transactions, including purchase and sale agreements, joint venture structures, property management, and leasing. Ms. Bocci's practice includes acquiring or selling real estate portfolios, often across multiple jurisdictions, whether through several serial transactions or a single large-scale, multi-property deal.
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Michael W. Daugherty
Shareholder
Somach Simmons & Dunn
Mr. Daugherty provides legal advice regarding water rights, water quality, and land use to municipalities, special... | Read More
Mr. Daugherty provides legal advice regarding water rights, water quality, and land use to municipalities, special districts, Indian tribes, universities, ditch companies, and private ranches, resorts, and landowners. He combines his private practice and public interest experience to navigate a rewarding practice that involves representation of both large and small entities in water rights matters across the country. Mr. Daugherty helps municipal water suppliers with complex integrated water systems protect and expand their water rights portfolios, public agencies navigate complex water quality regulations, private property owners understand their decreed and undecreed water rights, and ditch companies and private developers negotiate development-related agreements. He regularly appears before state and federal courts, agencies, and commissions regarding water rights and water quality and advises clients on federal, state, and local water-related regulation and administration.
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Frank Z. Ruttenberg
Partner
Haynes Boone
Mr. Ruttenberg's real estate practice includes negotiating and preparing documents relating to the financing,... | Read More
Mr. Ruttenberg's real estate practice includes negotiating and preparing documents relating to the financing, lease, sale, purchase and operation of income producing properties; the finance, acquisition, development and day-to-day operations for apartment and commercial-use complexes; landlord/tenant relations; commercial transactions with governmental agencies; and the redevelopment and preservation of historic structures. He is involved in assisting development clients with the purchase, sale or lease of groundwater and surface water rights, the development of diversion facilities, and other water development and water supply agreements. In general commercial law, Mr. Ruttenberg assists businesses with day-to-day operating needs, negotiating and drafting business contracts and business entities documentation for limited partnerships, limited liability companies, general partnerships, and corporations. He prepares intra-owner agreements for commercial entities of all types and the documentation in connection with the formation of investment capital. Mr. Ruttenberg is Vice Chair of the Business Law Section of the Texas State Bar.
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