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What is The Bundle of Legal Rights of a Real Estate Owner?

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Senior couple shown new home by an estate agent
Andrew Brett Wallis/ Photographer's Choice RF/ Getty Images
Question: What is The Bundle of Legal Rights of a Real Estate Owner?
Answer: Owning real estate carries with it a traditional "bundle of legal rights" transferred with the property from seller to buyer. These are the recognized rights of the holder of title to the property and include:

  • the right of possession - the property is owned by whomever holds title;
  • the right of control - within the laws, the owner controls the use of the property;
  • the right of exclusion - others can be excluded from using or entering the property;
  • the right of enjoyment - the owner can enjoy the use of the property in any legal manner; and
  • the right of disposition - the title holder can sell, rent or transfer ownership or use of the property at will
  • Ownership of land is holding "title" to it. The evidence of that title is the deed. The seller executes a deed to transfer title to real property and the bundle of rights that go with it.

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