water rights in arizona
Water rights are agreements dating to previous landowners and are passed with the transfer of a business or deed. It is important to have an experienced attorney review the well share rights for any business or property that you are going to purchase.
how to purchase water rights in arizona
what are water shares
Water shares are purchased from companies with ownership in water shares.
how to purchase water shares in arizona
The Dunaway Law Group has experience with water rights law, water supply law, groundwater use, water-use compliance issues and more. Our firm can assist with planning and due diligence for a potential project or defending against any potentially damaging new restrictions.
the COST OF A WATER in arizona
There is no set price for a unit of water and the price can vary wildly. Due in large part to its location.
We tend to think of water as a public resource, free from the vagaries of market forces, more than 90 percent of Americans get their water from publicly controlled systems.
Throughout the Southwest, it’s become increasingly common for water to be bought and sold at auctions in multi-million-dollar deals. Market consultants predict we’ll see even more water privatization in the future. National water development and investment companies are quietly capitalizing on liquid cash.
Water is becoming more valuable as it becomes scarcer, and it is becoming scarcer at an alarming rate. The Southwest’s population boom, coupled with a mega drought and climate change, will lead to a water deficiency on the Colorado River of more than 1 trillion gallons annually by 2060. The cost of water will exponentially increase.
Water is measured in acre-feet (AF): one acre across, one foot deep. It’s 325,851 gallons – the average amount of water used every year by a family of five.
What is the value of water?
Water’s value is fluid. It depends on where the water is, how big the supply, how urgent the demand, and lots more – including who owns it.
A major part of Vidler’s business model, though, just involves buying and selling water. For example, two golf clubs in Scottsdale – Desert Mountain and Golf Club Scottsdale – will pay Vidler almost $10 million to deliver water. The city now waters the clubs’ seven courses but requires them to have a backup supply. The golf courses will get 1,650 AF. Scottsdale wanted a fee for the transaction but instead decided to take it out in trade, to the tune of 1,260 AF.
Water-resource consultant, Timothy Bray, of Southwest Community Resources. “I act like a real-estate broker. I will enter into an agreement with one side or the other to do this work, and so I get paid by one side or the other just like any broker would get paid.”
arizona municipal water users association
Arizona Municipal Water Users Association (AMWUA), which represents Phoenix, Scottsdale, and eight other municipalities. Each city has to demonstrate it has enough water to meet the needs of its customers for 100 years. It is clear that water is going to become much more valuable over time. The only question is how quickly, and the price of water will increase.
Contact water lawyer Clint Dunaway at 480-702-1608 or message us HERE.
*These blog posts are not intended, nor shall they be deemed to be the rendering of legal advice. Reading these blog posts does not create an attorney-client relationship, nor shall it impose an obligation on the part of the attorney to respond to further inquiry. Dunaway Law Group limits its practice to the State of Arizona.