Ownership and estates
Bundle of rights
The set of legal rights that together make up ownership of real property
Possession, control, enjoyment, exclusion and disposition. Ownership is best understood as holding the whole bundle, and every lesser estate or encumbrance is a stick taken out of it — a lease removes possession, an easement removes part of exclusion, a mortgage constrains disposition.
How the exam asks about it
A useful mental model as well as a term: almost every ownership question can be answered by asking which sticks the person in the question is holding.
Related terms
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