Bundle of Rights

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The Bundle of Rights Theory is a concept that describes real property by the legal rights associated with owning the property.  It specifies rights such as the rights to sell, lease, occupy and trade the property. The buyer in a sales transaction typically purchases the legal rights previously held by the seller, except those that are reserved or limited in the sale

 

An owner can give away, sell, or bequeath any of the bundle of rights.

 

These rights are subject to private and public limitations and restrictions

 

Among other things, the bundle of rights includes:

 

The right to occupy and use it
The right to sell it in part or in whole
The right to give it away in part or in whole
The right to bequeath it
The right to lease it
The right to transfer by contract for a period of time the benefits derived
The right to do nothing with it

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