The Dominant Water Estate and Water Reallocation

Abstract

Different parts of the hydrologic cycle have been separated into different property rights regimes. With different property rules applying to the same water in different parts of the hydrologic cycle, management within a reallocation context can be confusing. If the water estate is made dominant and public, then the other property rules would be subservient to it. This does not mean private rights are precluded. They can be represented by a marketable permit. The dominant estate would allow for market and legislative reallocation. Management goals would be achieved through an adaptive management process.