Which concept relates to the distribution of property rights concerning waterways?

The concept that relates to the distribution of property rights concerning waterways is Riparian Rights. This principle pertains specifically to the rights of landowners whose property is adjacent to a water source, such as a river or a lake. Riparian rights grant these landowners the ability to make reasonable use of the water, which includes activities such as fishing, boating, and irrigation of their property.

This concept not only establishes the rights of the landowners but also implies certain responsibilities to ensure that their use of the water does not negatively impact others who share access to the waterway. For example, the rights are typically limited to reasonable use to prevent over-extraction that could harm the water supply or affect downstream users.

In contrast, other concepts listed do not focus specifically on waterway rights. Rulership refers to governance and authority, which does not pertain directly to property rights related to waterways. Regulatory compliance involves adhering to laws and regulations, but it does not define the rights of property owners regarding water. Estate law deals with the inheritance and transfer of property rights, which again does not specifically address the unique considerations of waterway rights. Thus, Riparian Rights stands out as the correct concept in connection with property rights about waterways.