It's been said that the bundle of legal rights originated from the laws of merry old England.
Sellers were known to transfer property by giving the buyer a small bundle of sticks from a tree, or a shovel full of earth, from the property they bought.
If the buyer accepted the dirt and the sticks he then become the owner of the tree that the sticks or branches came from and the land to which the tree was attached.
The sticks were a symbolic representation of the rights to transfer ownership of the property.
I remember a Woody Allen film where a peasant in medieval Russia carried a small piece of square land in his pocket and would proudly display it to his family by removing it from his coat, and equally as proudly announce that he was a landowner. I laughed so hard I fell over.
The Bundle of Legal Rights are recognized as:
1. The right of possession.
2. The right to control the property based on the existing laws governing the jurisdiction of the lands location.
3. The right of enjoyment which allows the owner to use the property in conformity with the laws.
4. The right of exclusion which allows the owner to keep people off of their property or from entering or using the property without permission.
5. The right of disposition which allows the owner to will, transfer, sell, encumber, constrain or dispose of the property.
Have modern times changed the way we honor these rights?
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