Bundle of rights - wikipedia Bundle of rights This article has multiple issues. Please help improve it or discuss these issues on the talk page. ( Learn how and when to remove these template messages ) This article may contain excessive or improper use of non-free material. Please review the use of non-free media according to policy and guidelines and correct any violations. The talk page may have details. ( November 2015 ) This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. ( December 2012 ) Property law Part of the common law series Types Real property Personal property Acquisition Gift Adverse possession Deed Conquest Discovery Accession Lost, mislaid, and abandoned property Treasure trove Bailment License Alienation Estates in land Allodial title Fee simple Fee tail Life estate Defeasible estate Future interest remainder Concurrent estate Leasehold estate Condominiums Real estate Conveyancing Bona fide purchaser Torrens title Strata title Estoppel by deed Quitclaim deed Mortgage Equitable conversion Action to quiet title Escheat Future use control Restraint on alienation Rule against perpetuities Rule in Shelley 's Case Doctrine of worthier title Nonpossessory interest Easement Profit Usufruct Covenant Equitable servitude Related topics Fixtures Waste Partition Practicing without a license Property rights Mineral rights Water rights prior appropriation riparian Lateral and subjacent support Assignment Nemo dat Quicquid plantatur Conflict of property laws Blackacre Security deposit Other common law areas Contract law Tort law Wills, trusts and estates Criminal law Evidence The bundle of rights is a metaphor to explain the complexities of property ownership. Law school professors of introductory property law courses frequently use this conceptualization to describe `` full '' property ownership as a partition of various entitlements of different stakeholders. 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. The term, `` bundle of rights, '' likely came into use during the late 19th century and continued to gain ground thereafter. Prior to that, the idea of property entailed more the owner 's dominion over a thing, placing restrictions on others from `` messing '' with the owner 's property. `` Bundle of rights, '' however, implies rules specifying, proscribing, or authorizing actions on the part of the owner. Ownership of land is a much more complex proposition than simply acquiring all the rights to it. It is useful to imagine a bundle of rights that can be separated and reassembled. A `` bundle 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 mechanic 's lien takes some, but not all, rights out of the bundle held by the owner. Extinguishing that lien returns those rights or `` sticks '' to the bundle held by the owner. In the United States ( and under common law ) the fullest possible title to real estate is called `` fee simple absolute. '' Even the US federal government 's ownership of land is restricted in some ways by state property law. Contents 1 Variations on the concept 2 Applications 2.1 Examples of Component Rights 3 See also 4 References Variations on the concept 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 easements across private property. Historically the degrees of individual and community control over real property have varied greatly. The differences between capitalism, despotism, socialism, feudalism, and traditional societies often define different standards for land ownership. The bundle of rights concept looks much different 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. Bundle of Rights - Simply put are rights inherent with the property. The right to use, the right to sell, right to mortgage, right to lease, right to give away, and right to enter. Or the right to refuse to exercise any of these rights. This is subject to certain limitations. 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 ( residential or other buildings ) 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. 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. 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 for an extended period of time. 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 ''. `` Squatting '' can result in `` adverse possession '', that in common law, is the process by which title to another 's real property is acquired without compensation, by holding the property in a manner that conflicts with the true owner 's rights for a specified period of time. Circumstances of the adverse possession determine the type of title acquired by the adverse possessor, which may be fee simple title, mineral rights, or another interest in real property. Examples of component rights 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 Possession ( right to use and occupy ) Legal title Mortgage Lease Sell Subdivide the property Create a covenant running with the land Railroad Public works Electric power transmission lines Air rights Riparian water rights Mineral rights Grazing rights Collect Property tax Enforce a Lien Protect Endangered species Protect Wetlands Zoning Planning Permission / Development Rights ( United Kingdom ) Eminent domain Prohibit noxious or nuisance uses Possession -- right to use and occupy as tenant Freedom to roam Homeowners association Historic preservation Conservation easement Adverse possession 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. Airplanes 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. See also List of real estate topics Property rights ( economics ) Real estate References Jump up ^ http://scholarship.law.uc.edu/cgi/viewcontent.cgi?article=1164&context=uclr Jump up ^ http://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?article=4601&context=fss_papers Jump up ^ Klein, Daniel B. and John Robinson. `` Property : A Bundle of Rights ? Prologue to the Property Symposium, '' Econ Journal Watch 8 ( 3 ) : 193 - 204, Sept 2011. ( 1 ) Jump up ^ E.g., United States v. Craft, 535 U.S. 274, 278, 152 L. Ed. 2d 437, 446, 122 S. Ct. 1414, 1420 ( 2002 ) ( describing the `` bundle of sticks '' as a `` collection of individual rights which, in certain combinations, constitute property '' ). Daniel R. Mandelker ( 2003 ). Land use law. ( Charlottesville, Va. ) : LexisNexis Matthew Bender. ISBN 0 - 327 - 16269 - 4. Introduction to Property Rights : A Historical Perspective Benedikt Koehler, Muhammad 's conception of property as a bundle of rights, Economic Affairs, vol. 35, number 1, Feb 2015 Introduction to Property Rights : A Historical Perspective Property By owner Common Common land Communal land Community Cooperative Private Public State Crown property Crown land By nature Croft Intangible Intellectual indigenous Personal Tangible immovable real Common resources Common - pool resource Digital Global Information Knowledge Theory Bundle of rights Commodity fictitious commodities Common good ( economics ) Excludability First possession appropriation homestead principle Free rider problem Game theory Georgism Gift economy Labor theory of property Law of rent rent - seeking Legal plunder Natural rights Ownership common customary self state Property rights primogeniture usufruct women 's Right to property Rivalry Tragedy of the commons anticommons Applications Acequia ( watercourse ) Ejido ( agrarian land ) Forest types Inheritance Land tenure Property law alienation easement restraint on alienation real estate title Rights Air Fishing Forest - dwelling ( India ) Freedom to roam Grazing pannage Hunting Land aboriginal indigenous squatting Littoral Mineral Bergregal Right of way Water prior - appropriation riparian Disposession / redistribution Bioprospecting Collectivization Eminent domain Enclosure Eviction Expropriation Farhud Forced migration population transfer Illegal fishing Illegal logging Land reform Legal plunder Piracy Poaching Primitive accumulation Privatization Regulatory taking Slavery bride - buying human trafficking wage wife selling Tax inheritance poll progressive property Theft Scholars ( key work ) Frédéric Bastiat Ronald Coase Henry George Garrett Hardin David Harvey John Locke Two Treatises of Government Karl Marx Marcel Mauss The Gift John Stuart Mill Elinor Ostrom Karl Polanyi The Great Transformation Pierre - Joseph Proudhon What Is Property ? David Ricardo Murray N. Rothbard The Ethics of Liberty Jean - Jacques Rousseau The Social Contract Adam Smith The Wealth of Nations Categories : Property Property law by country Retrieved from `` https://en.wikipedia.org/w/index.php?title=Bundle_of_rights&oldid=792292379 '' Categories : Real estate Property law Hidden categories : Articles with improper non-free content from November 2015 All articles with improper non-free content Articles needing additional references from December 2012 All articles needing additional references Talk Contents About Wikipedia Français Русский Edit links This page was last edited on 25 July 2017, at 17 : 46. Text is available under the Creative Commons Attribution - ShareAlike License ; additional terms may apply. By using this site, you agree to the Terms of Use and Privacy Policy. Wikipedia ® is a registered trademark of the Wikimedia Foundation, Inc., a non-profit organization. About Wikipedia

Question: the concept of a bundle of rights refers to
Answer: the complexities of property ownership