In real estate, what does "bundle of rights" refer to?

The term "bundle of rights" in real estate refers to the various legal rights associated with property ownership. When an individual owns real estate, they possess a collection of rights that can include the right to use the property, the right to lease it to others, the right to modify or improve it, the right to sell or transfer ownership, and the right to enter and exit the property freely. Each of these rights contributes to the overall concept of ownership and provides the owner with significant control over the property.

Understanding the "bundle of rights" is essential for grasping the complexities of property law, as these rights can vary depending on local regulations and contractual agreements. As such, the owner can exert control over their property in diverse ways, creating opportunities for personal use, investment, and revenue generation.