Key Takeaways
- Wyoming recognizes various forms of property ownership including fee simple, joint tenancy, and tenancy in common
- Wyoming is a "race-notice" state for recording priorities—first to record without notice of prior claims wins
- Wyoming does not have a state transfer tax on real estate sales
- Water rights in Wyoming follow the "prior appropriation" doctrine—first in time, first in right
- Mineral rights can be severed from surface rights and are particularly important in Wyoming
Wyoming Property Law Basics
Wyoming has specific property laws that differ from other states. Understanding these concepts is essential for the state exam.
Types of Property Ownership
Fee Simple Absolute
The highest form of ownership with unlimited duration and full rights:
- Right to possess
- Right to use
- Right to transfer
- Right to exclude others
Concurrent Ownership
| Type | Key Features |
|---|---|
| Joint Tenancy | Right of survivorship, equal shares, four unities required |
| Tenancy in Common | No right of survivorship, unequal shares possible |
| Tenancy by the Entirety | Not recognized in Wyoming |
| Community Property | Not recognized in Wyoming |
Key Point: Wyoming does NOT recognize community property or tenancy by the entirety.
Recording System
Wyoming uses a "race-notice" recording system:
How Race-Notice Works
| Priority | Given To |
|---|---|
| First to record | If without notice of prior claims |
| Good faith purchaser | For value, without knowledge of prior claims |
Recording Requirements
| Requirement | Details |
|---|---|
| Must be in writing | As required by Statute of Frauds |
| Must be acknowledged | Notarized |
| Must be recorded | In county where property is located |
Exam Tip: A subsequent purchaser who records first WITHOUT notice of a prior unrecorded deed has priority over the prior unrecorded purchaser.
Transfer Tax
Wyoming does not have a state transfer tax on real estate sales:
| Feature | Wyoming |
|---|---|
| State transfer tax | None |
| Documentary stamps | None required |
| Recording fees | County-based fees apply |
Water Rights
Wyoming follows the prior appropriation doctrine for water rights:
Prior Appropriation ("First in Time, First in Right")
| Principle | Description |
|---|---|
| First in time | First person to put water to beneficial use has priority |
| Beneficial use | Water must be used for a recognized beneficial purpose |
| Permits required | State permits required for water appropriation |
| Can be severed | Water rights can be sold separately from land |
Key Water Rights Concepts
| Concept | Description |
|---|---|
| Senior rights | Older water rights have priority during shortages |
| Junior rights | Newer water rights may be cut off during shortages |
| Beneficial use | Agriculture, domestic, municipal, industrial |
| Adjudication | Court process to determine water rights |
Important: Wyoming is NOT a riparian rights state. Simply owning land next to water does not give automatic water rights.
Mineral Rights
Wyoming has significant mineral rights issues due to oil, gas, and coal resources:
Severed Mineral Rights
| Feature | Description |
|---|---|
| Can be severed | Mineral rights can be separated from surface rights |
| Surface vs. minerals | Different owners possible |
| Access rights | Mineral owner typically has right to access surface |
| Common minerals | Oil, gas, coal, uranium, trona |
Disclosure Requirements
| Requirement | Details |
|---|---|
| Buyer should investigate | Title search for mineral reservations |
| Common reservations | Previous owners may have reserved minerals |
| Federal minerals | Government may own minerals under private land |
Warning: In Wyoming, always investigate mineral rights status. The seller may not own the minerals.
Homestead Exemption
Wyoming provides a homestead exemption to protect a portion of home equity from creditors:
| Feature | Wyoming |
|---|---|
| Maximum exemption | $40,000 ($80,000 for married couples) |
| Applies to | Principal residence |
| Protection from | Unsecured creditors |
| Does NOT protect from | Mortgages, property taxes |
Which recording system does Wyoming use?
Which water rights doctrine does Wyoming follow?
Which form of concurrent ownership is NOT recognized in Wyoming?
What is Wyoming's state transfer tax on real estate sales?