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River Rafting Location, Evaluation, and Analysis

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River Rafting Location, Evaluation, and Analysis Lynn Lee, Gail Rickey, Brenda Wilson-Stringer ACC/543 Managerial Accounting & Legal Aspects of Business February 10, 2014 Fred Johnston

River Rafting Location, Evaluation, and Analysis White water rafting has exploded into an adventure sport in the last 10 years. This explosion has broadened the business market for rafting companies in Florida, Kentucky, and California. In order to open, a new rafting business research must be conducted on the legal ramifications pertinent to the area. The direct concern are the legal aspects of real property, personal property, business insurance, and environmental issues and regulations.
Evaluate the Legal Aspects of Acquiring, Holding, and Disposing of Real Property The River-Rafting Business is real property, which consist of a riverbed, and banks that are state property. It is considered public property if the river is physically navigable. Public property does not abide by the rules of real property. Cheeseman (2007) stated, “Real property is immovable or attached to immovable land or buildings, whereas personal property is movable” (p. 755). Real property plays an important role in the United States (U. S.) economy of property and ownership rights. The real property concept is concerned with the legal rights of property as opposed to the physical attributes of tangible land. Real property consisted of items of personal property affixed to real property and other rights. It is important to understand the concept of real property; and how to transfer the rights of the property in order to execute the purchase of property. Property is normally classified as personal or real property. The most common form of real property is land. The landowner usually purchases the surface rights of the land, which is the right

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