Bundle of Rights
- An owner is given a legal set or bundle of rights over their property.
ownership rights, set of rights
Related Terms and Acronyms
- 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.
- Condemnation — Definition,
- The act of condemning (as land forfeited for public use) or judging by a government to be unfit for use.
- Conveyance — Definition,
- A document that transfers a property title.
- To move something.
- Easement — Definition,
- 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.
- Giving persons other than the owner access to or over a property.
- Encumbrance — Definition,
- Anything that affects or limits the clear and free title to a property, such as mortgages, leases, easements, or restrictions.
- 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.
- Lien — Definition,
- A legal hold or claim of a creditor on the property of another.
- Power of Sale — Definition,
- The right of a mortgagee to force the sale of the property without judicial proceedings should default occur.
- Purchase Agreement — Definition,
- 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.
- Right of First Refusal — Definition,
- An agreement by an owner to give another party an opportunity to buy the property before it is offered to anyone else.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.