Final answer:
The olfactory tracts are located underneath the frontal lobe, extending from the olfactory bulb, which is on the brain's ventral surface.
Step-by-step explanation:
The olfactory tracts are located underneath the frontal lobe of the brain. These tracts emerge from the olfactory bulb, which is positioned on the ventral surface of the frontal lobe. The olfactory bulb is a neural structure that receives sensory input from the olfactory sensory neurons and transmits this information through the olfactory tracts to various brain regions, including the primary olfactory cortex in the temporal lobe and parts of the limbic system.
This system includes areas involved in memory and emotional responses, underscoring the intimate relationship between smell and memory/emotion in humans. It is also significant to note that the olfactory system is unique among the senses as it directly connects to the cerebral cortex without first passing through the thalamus.