what is a bundle of rights 
a bundle of rights is a term for the set of legal privileges that is generally afforded to a real estate buyer with the transfer of the title the bundle includes the following the average homebuyer can expect the whole traditional bundle of rights once the deal is done real estate ownership carries with it a complex set of rights and the bundle of rights concept traditionally has been how those rights are described and summarized it is a feature of many real estate license tests and first year law classes understanding a bundle of rightsthe average homebuyer can expect the whole traditional bundle of rights once the deal is done that is homebuyers expect to have the right of possession of control of exclusion of enjoyment and of disposition however these rights can be broken up and assigned to different parties this usually applies to commercial and investment property purchases for example the buyer of a rental property may have rights that are limited by local landlord tenant laws and regulations or the owner of a storefront property may share certain rights with the tenant who runs a business there in any case a real estate owner s bundle of rights can be exercised only with the boundaries of many other laws for example a homeowner s right of enjoyment may not be exercised beyond the limits of local noise control laws the right of possession simply states that the titleholder is the legal owner of the property the titleholder can use the property in any way that is not illegal in practice a homeowner association hoa can place additional restrictions on anything from garden ornaments to pet ownership though these rules are not laws the right of exclusion allows the titleholder to limit who may enter the property this one has few real limits easements may be in place permitting access to utility lines that override this right a warrant authorizing a search of the property trumps the right of exclusion additionally an owner of a rental property may not have right of exclusion for who their tenant lets on the property depending on the terms of the lease and local laws the right to enjoyment asserts the titleholder s right to participate in any activities that they find pleasurable while on the property this assumes once again that those activities are lawful the right of disposition protects the titleholder s right to transfer ownership permanently or temporarily to another party this right is fully realized only when the property is owned outright and not mortgaged an exclusion also applies if the property is subject to a lien 