Conveyance of Extinguishment Credits - Arizona

Conveyance of Extinguishment Credits is a legal document that was released by the Arizona Department of Water Resources - a government authority operating within Arizona.

FAQ

Q: What is conveyance of extinguishment credits?A: Conveyance of extinguishment credits refers to the transfer of the right to use and benefit from water credits that have been extinguished in Arizona.

Q: What are extinguishment credits?A: Extinguishment credits are water rights that have been voluntarily retired or permanently deactivated.

Q: Why would someone transfer extinguishment credits?A: There are various reasons why someone may transfer extinguishment credits, such as selling them to another party or using them to fulfill water mitigation requirements.

Q: Who can transfer extinguishment credits?A: Any entity or individual that holds extinguishment credits can transfer them to another party.

Q: Are there any restrictions on the transfer of extinguishment credits?A: Yes, there may be certain restrictions on the transfer of extinguishment credits, such as limitations on the geographic area where they can be transferred or the purpose for which they can be used.

Q: What is the process for transferring extinguishment credits?A: The process for transferring extinguishment credits typically involves completing a legal agreement and obtaining approval from the relevant water management authorities.

Q: Are there any fees associated with the transfer of extinguishment credits?A: Yes, there may be fees and administrative costs associated with the transfer of extinguishment credits.

Q: Can extinguishment credits be used to offset water usage?A: Yes, extinguishment credits can be used to offset water usage and meet water mitigation requirements in Arizona.