Lesson 5 of 5
The bundle of rights
Ownership is a bundle: possession, control, enjoyment, exclusion, and disposition. Some permissions never enter the bundle.
What you will learn
- Owning this lot is more than holding a key. It is a bundle of rights: possess it, control and enjoy it within the law, keep others out, and sell or give it away.
- A fence is the exclusion sketch: the owner decides who comes in. A recorded driveway easement that serves the lot runs with the land. A neighbor's spoken, revocable yes does not.
- The owner can give away pieces. A reservation of oil, gas, or other minerals is made by an attached addendum, not by a handshake. The buyer takes the bundle that remains.