Exam (elaborations)
The CE Shop Section 2, Unit 4 Property Ownership and the Bundle of Rights Exam
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The CE Shop Section 2, Unit 4 Property Ownership and the Bundle of Rights
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The CE Shop; Section 2, Unit 4: PropertyOwnership and the Bundle of Rights
5 Bundle of Rights - Answer -1) enjoyment
2) disposition
3) possession
4) control
5) exclusion
Possession - Answer -right to occupy the property
Control - Answer -right to determine interest in the property for others (The title holder
can use the property in any way that is not illegal.)
Enjoyment - Answer -right to possess the property w/o harassment or interference
Exclusion - Answer -Right to refuse other interests in your property (The right of
exclusion allows the title holder to limit who may enter the property.)
Disposition - Answer -right to determine how, when and whether the property is to be
sold, leased, mortgaged or transferred (The right of disposition protects the title holder's
right to transfer ownership, permanently or temporarily, to another party.)
Surface rights - Answer -land and water rights
Subsurface rights - Answer -rights to use underground resources (ex: natural gas and
minerals. Often called mineral rights)
Air Rights - Answer -right to use the open air space above buildings up to a height
established by the law.
Riparian rights: - Answer -landowner's rights whose whose land is next to a natural
flowing body of water. State law governs these rights.
Littoral Rights - Answer -landowner's rights whose land borders commercially navigable
closed bodies of water like lakes/oceans. State law governs these rights.
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