When purchasing a parcel of land—whether a primary residence, vacation home, industrial complex, or working ranch—the existence or non-existence of water rights, and the characteristics and elements of any such water rights, are a critical consideration. The water supply can be different from the property’s water rights. There is generally a period of time in any real estate contract during which you can review and understand water rights on the property. The involved water rights inform many determinations, including: Who owns the water rights that serve the property, and can you legally use water at the property at all? What are the quantities (rate or total quantity or both) in which water may be used (or stored and used)? When can water be used under the water right—only during irrigation season or all year?