Bundle of Rights Flashcards

Bundle of Rights Flashcards RIGHT OF QUIET ENJOYMENTThe owner can possess and use the property in peace, without outside disturbances.BUNDLE OF RIGHTSThese rights include the right to possess, dispose, use, encumber and quiet enjoyment. The BUNDLE OF RIGHTS refers to all of the legal rights associated with the ownership of property. Think of the bundle of rights as a "bundle of sticks". Each stick represents a different legal right. The more sticks an owner possesses, the more rights they have to the property.RIGHT OF possessionThe owner exclusively owns the property. The owner can opt to share their right of possession to the property with another person(s) or other legal entity.RIGHT TO ENCUMBERThe owner may place a lien on the property. For example, the owner can take out a mortgage on the property.RIGHT TO DISPOSEThe owner has the right to sell or transfer all or part of the property.RGHT TO USEThe owner can use the property in any legal manner.