Water and water rights in the the West are an extremely complex subject that are a constant source of confusion and misunderstanding by ranch buyers (and even some landowners). In an effort to boil down some of the broad language regarding water, my most recent post on the Mirr Ranch Group blog gives a quick overview of the four fundamental classifications of water in Colorado. I also recommend two books on Colorado water and water rights that are very dense and detailed, yet written for non-attorneys and therefore relatively easy to read.