Bundle of Rights
Is a company: no
Is a proper noun: no
- set of rights
- ownership rights
Definition of Bundle of Rights
- An owner is given a legal set or bundle of rights over their property.
Related Terms and Acronyms
- Conveyance — Definition,
- A document that transfers a property title.
- To move something.
- Lien — Definition,
- A legal hold or claim of a creditor on the property of another.
- Condemnation — Definition,
- The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use.
- Aviation Easement — Definition,
- An agreement that grants the right to fly airplanes over property, even if the practice causes damage, inconvenience, or loss of property value. Such an agreement usually restricts the property owner from building or growing anything over a specified height.
- Easement — Definition,
- Giving persons other than the owner access to or over a property.
- A means by which access or right of way is granted by law if an owner of a property is negligent in restricting access or enforcing trespassing laws for ten years or more.
- Purchase Agreement — Bank,
- A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
- Encumbrance — Bank,
- Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
- Power of Sale — Bank,
- The right of a mortgagee to force the sale of the property without judicial proceedings should default occur.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Housing Discrimination — Definition,
- The illegal practice of discriminating against buyers or renters of dwellings on the basis of race, colour, religion, national origin, sex, family status or disability.
- Right of First Refusal — Bank,
- An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.