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The bundle of rights is a common way to explain the complexities of property ownership. Teachers often use this concept as a way to organize confusing and sometimes contradictory data about real estate. Image File history File links This is a lossless scalable vector image. ...
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This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
A gift, in the law of property, has a very specific meaning. ...
In common law, adverse possession is the name given to the process by which title to anothers real property is acquired without compensation, by, as the name suggests, holding the property in a manner that conflicts with the true owners rights for a specified period of time. ...
An English deed written on fine parchment or vellum with seal tag dated 1638. ...
{{PropertyLaw}} In the [[common law]] of [[property]], personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come...
Alienation, in property law, is the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another. ...
Bailment describes a legal relationship where physical possession of personal property (chattels) is transferred from one person (the bailor) to another person (the bailee) who subsequently holds possession of the property. ...
To license or grant license is to give permission. ...
Estate is a term used in the common law. ...
Allodial title is a concept in some systems of property law. ...
Fee simple, also known as fee simple absolute or allodial, is a term of art in common law. ...
A life estate, is a term used in common law to describe the ownership of land for the duration of a persons life. ...
This article includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ...
In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ...
A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. ...
A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ...
This article refers to a form of housing. ...
Conveyancing is the act of transferring the legal title in a property from one person to another. ...
A bona fide purchaser (BFP)—or bona fide purchaser for value without notice (BFPFVWN)—in the law of real property, is an innocent party who purchases property for value, without notice of any other partys claim to the title of that property. ...
Torrens title is a system of land title where a register of land holdings maintained by the state guarantees indefeasible title to those included in the register. ...
Estoppel by deed is a doctrine in the law of real property that arises where a party conveys title to land that he does not own to a bona fide purchaser, and then acquires title to that land. ...
A quitclaim deed is a term used in property law to describe a document by which a person disclaims any interest the grantor might have in a piece of real property, and passes that claim to another person (the grantee). ...
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Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date. ...
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In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ...
A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring his interest in the property. ...
The rule against perpetuities is a rule in property law which prohibits a contingent grant or will from vesting outside a certain period of time. ...
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In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. ...
A nonpossessory interest in land is a term of the law of property to describe any of a category of rights held by one person to use land that is in the possession of another. ...
An easement is the right to do something or the right to prevent something over the real property of another. ...
A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. ...
A covenant running with the land, is a real covenant, in the law of real property. ...
An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land, requiring the landowner to maintain certain practices with respect to the land (e. ...
In the law of real property, fixtures are anything that would otherwise be a chattel that have, by reason of incorporation or affixation, become permanently attached to the real property. ...
Waste is a term used in the law of real property to describe a cause of action that can be brought in court to address a change in condition of real property brought about by a current tenant that damages or destroys the value of that property. ...
A partition is a term used in the law of real property to describe the court-ordered division of a concurrent estate into separate portions representing the proportionate interests of the tenants. ...
Riparian water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source. ...
Lateral and subjacent support, in the law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining land and underground structures. ...
An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ...
Nemo dat quod non habet, literally meaning no one [can] give what they dont have is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. ...
A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ...
In the common law, a tort is a civil wrong for which the law provides a remedy. ...
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The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ...
Criminal law (also known as penal law) is the body of statutory and common law that deals with crime and the legal punishment of criminal offenses. ...
The law of evidence governs the use of testimony (e. ...
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The bundle of rights is commonly taught in US first-year law school property classes to explain how a property can simultaneously be "owned" by multiple parties.
Understanding the bundle of rights
Variations on the division between public and private property use can be found throughout the world. While the bundle of rights concept is strongly rooted in common law, there are comparable ideas in civil law systems and religious law systems. National, sub-national, and municipal laws strongly influence what title owners can do with their property in terms of physical development. Quasi-governmental bodies (such as utility companies) are also permitted to create easments across private property. This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
A public utility is a company that maintains the infrastructure for a public service. ...
Historically the degrees of individual and community control over real property have varied greatly. The differences between capatilism, despotism, socailism, feudalism, and traditional societies often define different standards for land ownership. The bundle of rights concept looks much differently when examined by different types of societies. For instance, a laissez-faire government would allow a much different bundle of rights than a communist government. Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ...
Applications Community land trusts and land banking are examples of efforts to rearrange the bundle of rights. This is typically done by dividing the responsibilities of ownership and management from the rights to use the property. A typical community land trust strategy is to hold ownership over the land and sell the structural improvements to low-income homebuyers. This allows people to buy a home at a price far below the market rate and to realize the benefits of their property value improving. Redefining the Commons: Locking In Value through Community Land Trusts. ...
Real Estate Investment Trusts divide up the bundle of rights in order to allow commercial investments in real property. These legal structures are becoming more common throughout the developed world. A Real Estate Investment Trust or REIT (rhymes with meet) is a specialized form of investment company in the United States that effectively allows its (usually public) investors to share the ownership of a group of real estate properties. ...
Squatting presents a non-economic way for people to transfer parts of the bundle of rights. Depending on the applicable laws a squatter can acquire property rights by simply occupying vacant land. Areas with high concentrations of squatters are sometimes thought of as informal settlements. Squatters face great instability due to their lack of title and governmental efforts at "blight removal". The Chien Rouge in Lausanne, a squat held in the old hospital. ...
Symptoms of urban blight: graffiti-covered abandoned and deteriorating buildings and garbage-strewn vacant lots. ...
Examples This table breaks down some of the various rights involved in real property ownership. Several of these rights can be transferred between different parties through sale or trade. Third parties can obtain the rights to access and profit from several of the public use rights without the consent of the title owner. This is often the case with resource extraction companies such as mines. | Title Owner | Public Use | Government | Third Party | | | | | | For example, a husband and wife can be owners (technically, title owners) of real property that is also encumbered by a mortgage and a mechanics lien. Their neighbor may have an easement for a utility line, and a license for entry and exit to a nearby plot of land. Planes have the right to fly through their airspace. Constitutionally, the state and federal governments always hold the right to condemnation, also called eminent domain, and the government at multiple levels retains various regulatory rights such as environmental regulation, zoning, and building code enforcement. This article does not cite any references or sources. ...
A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ...
A contemporary plat map showing the location of a property for sale. ...
A covenant running with the land, is a real covenant, in the law of real property. ...
A right-of-way (plural: rights-of-way) is an easement or strip of land granted to a railroad company upon which to build a railroad. ...
Look up Public works in Wiktionary, the free dictionary. ...
Power line redirects here. ...
Air rights are a type of development right in real estate. ...
Riparian water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source. ...
Mineral rights, mining rights, oil rights or drilling rights, are the rights to remove minerals, oil, or sometimes water, that may be contained in and under some land. ...
The examples and perspective in this article or section may not represent a worldwide view. ...
Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ...
In law, lien is the broadest term for any sort of charge or encumbrance against an item of property that secures the payment of a debt or performance of some other obligation. ...
This article or section is in need of attention from an expert on the subject. ...
A subtropical wetland in Florida, USA, with an endangered American Crocodile. ...
A typical zoning map; this one identifies the zones, or development districts, in the city of Ontario, California Zoning is a North American term for a system of land-use regulation. ...
Eminent domain (U.S.), compulsory purchase (United Kingdom, New Zealand, Ireland), resumption/compulsory acquisition (Australia) or expropriation (Canada, South Africa) in common law legal systems is the inherent power of the state to seize a citizens private property, expropriate private property, or rights in private property, without the owner...
The freedom to roam, or everymans right is a term describing the general publics ability to access land, be it public or privately owned. ...
A homeowners association, (or, as they are known in the industry, community association[1]) is an organization comprised of all owners of units[2] in a common interest development, and is given authority to enforce the covenants, conditions, and restrictions and managing the common amenities of the development. ...
Historic preservation, heritage management, or heritage conservation is the theory and practice of creatively maintaining the historic built environment and controlling the landscape component of which it is an integral part. ...
In the United States, a conservation easement is an easement — a transfer of usage rights — which creates a legally enforceable land preservation agreement between a landowner and a municipality or a qualified land protection organization (often called a land trust), for the purposes of conservation. ...
In property law, the title owner the one holding the greatest number of rights, or most important rights in a piece of real estate. ...
This article does not cite any references or sources. ...
This article does not cite any references or sources. ...
A mechanics lien is a hold on property for the benefit of someone whose work or property improves the property. ...
An easement is the right to do something or the right to prevent something over the real property of another. ...
To license or grant license is to give permission. ...
In property law, condemnation is identical to eminent domain. ...
Eminent domain (U.S.), compulsory purchase (United Kingdom, New Zealand, Ireland), resumption/compulsory acquisition (Australia) or expropriation (Canada, South Africa) in common law legal systems is the inherent power of the state to seize a citizens private property, expropriate private property, or rights in private property, without the owner...
Environmental law is a body of law which addresses the system of complex and interlocking rules which seeks to protect from destruction or development certain species or favored natural areas thought to be endangered by human encroachment. ...
A typical zoning map; this one identifies the zones, or development districts, in the city of Ontario, California Zoning is a North American term for a system of land-use regulation. ...
A building code, or building control, is a set of rules that specify the minimum acceptable level of safety for constructed objects such as buildings and nonbuilding structures. ...
Stack of Sticks Analogy Ownership of land is a much more complex proposition than simply acquiring all the rights to it. In order to make sense of this jumble of competing interests, it is useful to imagine a bundle of rights that can be separated and reassembled. A "stack of sticks" - in which each stick represents an individual right - is a common analogy made for the bundle of rights. Any property owner possesses a set of sticks related directly to the land. For example, perfection of a mechanics lien takes some, but not all, rights out of the bundle held by the owner. Resolving that lien returns those rights or "sticks" to the bundle. In the United States (and under common law) the fullest possible title is called "fee simple absolute." Even the US federal government's ownership of land is restricted in some ways by state property law. For the direction right, see left and right or starboard. ...
A mechanics lien is a hold on property for the benefit of someone whose work or property improves the property. ...
In law, lien is the broadest term for any sort of charge or encumbrance against an item of property that secures the payment of a debt or performance of some other obligation. ...
See also This aims to be a complete list of the articles on real estate. ...
A property right is the exclusive authority to determine how a resource is used, whether that resource is owned by government or by individuals[1]. All economic goods have a property rights attribute. ...
Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ...
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