Variations On The Concept
Variations on the division between public and private property use can be found throughout the world. While the bundle of rights concept is strongly rooted in common law, there are comparable ideas in civil law systems and religious law systems. National, sub-national, and municipal laws strongly influence what title owners can do with their property in terms of physical development. Quasi-governmental bodies (such as utility companies) are also permitted to create easements across private property.
Historically the degrees of individual and community control over real property have varied greatly. The differences between capitalism, despotism, socialism, feudalism, and traditional societies often define different standards for land ownership. The bundle of rights concept looks much different when examined by different types of societies. For instance, a laissez-faire government would allow a much different bundle of rights than a communist government.
Bundle of Rights- Simply put are rights inherent with the property. The right to use, the right to sell, right to mortgage, right to lease, right to give away, and right to enter. Or the right to refuse to exercise any of these rights. This is subject to certain limitations.
Read more about this topic: Bundle Of Rights
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