Bundle of Rights

The "Bundle of Rights" refers to the various legal rights that come with property ownership. When you own property, you have the right to use it, sell it, lease it, develop it, or give it away. These rights can be separated and transferred, meaning you can sell some rights while retaining others. For instance, you might sell the land but keep the mineral rights. Understanding this concept is essential for property transactions, as it clarifies what you can do with your property and what you might be giving up if you sell or lease it.