What does the term 'air rights' encompass?

The term 'air rights' refers to the rights to the vertical space above a parcel of land, which extends indefinitely into the air. This concept includes not only the airspace immediately above a building but also the space above the land that is available for various uses, including residential, commercial, and even for high-rise structures.

By recognizing that air rights are comprehensive and encompass the area above the land, it becomes clear that they can be utilized for a wide range of developments, such as skyscrapers that rise above the existing buildings. This aspect of air rights means that landowners can develop upwards, subject to zoning laws and other regulations.

The other options are narrower in scope and do not fully capture the definition of air rights. For instance, the first option limits the definition to only the airspace directly above a building, which is too restrictive. The third option focuses exclusively on the transportation aspect, ignoring the broader usage of airspace for development. Finally, the fourth option limits the definition to commercial use only, excluding other potential uses such as residential developments. Thus, the correct understanding of 'air rights' includes all vertical space above land, making the accurate choice the one that acknowledges high-rise development and the associated rights.