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A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
[2] Applying this definition, an empty portion of land behind an adjoining house that is regarded as that house's backyard may be an appurtenance to the house. The idea being expressed is that the backyard "belongs" to the house, which is the more significant of the two properties.
the right to use the good; the right to earn income from the good; the right to transfer the good to others, alter it, abandon it, or destroy it (the right to ownership cessation) Economists such as Adam Smith stress that the expectation of profit from "improving one's stock of capital" rests on the concept of private property rights. [7]
Land rights are such a basic form of law that they develop even where there is no state to enforce them; for example, the claim clubs of the American West were institutions that arose organically to enforce the system of rules appurtenant to mining. Squatting, the occupation of land without ownership, is a globally ubiquitous phenomenon.
An easement is appurtenant to and only for the benefit of specific land whereas a licence is a personal right. An easement is owned incorporeal property which cannot be revoked whereas a license is revocable.
Treasury secretary nominee Scott Bessent told Senate lawmakers Thursday that the Federal Reserve should remain independent, but that Donald Trump 'is going to make his views known' as president.
“I make good money, but a lot of people don’t,” says Nafiu H., an Uber driver based in Atlanta. “You must live in the right location and have a car good enough for at least Uber XL.” ...
Common goods mean that demand and price change in the opposite direction. If something is a normal good, then the consumer's demand for the goods and the consumer's income level change in the same direction.