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The "bundle of rights," however, implies rules specifying, proscribing, or authorizing actions on the part of the owner. [4] Ownership of land is a much more complex proposition than simply acquiring all the rights to it. It is useful to imagine a bundle of rights that can be separated and reassembled.
The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the ...
The rights in the bundle may be separated and held by different parties. It may also refer to a formal document , such as a deed , that serves as evidence of ownership . Conveyance of the document (transfer of title to the property) may be required in order to transfer ownership in the property to another person.
Usufruct (/ ˈ j uː z j uː f r ʌ k t /) [1] is a limited real right (or in rem right) found in civil law and mixed jurisdictions that unites the two property interests of usus and fructus:
There are two main views on the right to property in the United States, the traditional view and the bundle of rights view. [6] The traditionalists believe that there is a core, inherent meaning in the concept of property, while the bundle of rights view states that the property owner only has bundle of permissible uses over the property. [1]
Freehold estates: rights of conveyable exclusive possession and use, having immobility and indeterminate duration. fee simple. fee simple absolute—most rights, least limitations, indefeasible; defeasible estate—voidable possession and use fee simple determinable; fee simple subject to a condition subsequent; fee simple subject to executory ...
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The Domesday Book of 1086 recorded at least 12% of people as free, 30% as serfs, 35% as servient bordars and cottars, and 9% as slaves. [5] The history of English land law can be traced into Roman times, and through the Dark Ages under Saxon monarchs where, as for most of human history, land was the dominant source of social wealth.