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A "bundle of sticks" – in which each stick represents an individual right – is a common analogy made for the bundle of rights. Any property owner possesses a set of "sticks" related directly to the land. [5] For example, perfection of a mechanic's lien takes some, but not all, rights out of the bundle held by the owner. Extinguishing that ...
Property consists of what has been referred to as a "bundle of rights" or a "bundle of sticks." The most important "sticks" in the bundle are: the right to transfer, the right to exclude, the right to use, and the right to destroy.
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]
A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate). In several counties and municipalities in the US a standard title search (generally accompanied by title insurance ) is required under the law as a part of ...
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An estate in land is, in the law of England and Wales, an interest in real property that is or may become possessory. [ 1 ] [ 2 ] It is a type of personal property and encompasses land ownership, rental and other arrangements that give people the right to use land.
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The basic distinction in common law systems is between real property (land) and personal property (chattels). Before the mid-19th century, the principles governing the transfer of real property and personal property on an intestacy were quite different. Though this dichotomy does not have the same significance anymore, the distinction is still ...