What term refers to the right to develop and benefit from the air space above the right of way?

The term that refers to the right to develop and benefit from the air space above a right of way is known as air rights. This concept encompasses the legal ability to use, sell, or lease the space above a property, which can be important for urban development and construction, particularly in densely populated areas. Air rights allow property owners to capitalize on vertical space and can involve complex legal considerations, especially in relation to zoning laws and regulations.

Understanding air rights is crucial in the context of land use and development, as they can impact the value of a property and the potential for future projects. By establishing clear ownership of air rights, property owners can navigate the legal frameworks that govern building heights, allowances for structures like antennas or solar panels, and any other developments that may utilize the space above ground level.