Access over 20 million homework & study documents

Real Estate

Content type
User Generated
Subject
Real Estate
School
Prince Mohammad bin Fahd University
Type
Homework
Rating
Showing Page:
1/3
1
Basic Features of Real Property and Personal Property
Name
Institutional Affiliation
Date

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/3
2
BASIC FEATURES OF REAL PROPERTY AND PERSONAL PROPERTY
Personal property is a movable property, while real estate property is an immovable
property. Property rights have been considered as natural and can easily change. There are
several types of real and personal property. One of the issues related to the basic features of the
real estate and personal property is the bundle of rights. Bundle of rights in real estate and
personal property gives the buyer the legal privilege of ownership when the seller transfers the
title of the property. Another person could have the right to ownership of the property if he once
provided labor or material to be used in improving the property. Bundle of rights could lead to
problems about the possession of the property.
A neighbor can claim that he has the right to cross; these issues could lead to
disagreements that can only be solved in the court. The airplane has the right to fly through
space, but this right can be condemned by the government of a particular state when a problem
emerges. The bundle of rights has specific rights that must be followed, and a violation of these
rules could drag one to court. The bundle of legal laws of property states that one can lose or
gain property. Property owners are faced with obligations of paying taxes and maintaining
liability insurance. The bundle rights include several other laws; these laws include the right of
possession. The person who holds a title to a property is considered the owner of the property.
Mortgage lienholders could also have the right to possession, and the failure to pay taxes could
lead to the loss of possession.
Another bundle right is the right to control property; property owners must control how
their property is used. These people must also adhere to the restrictions placed by local and state
laws. Property owners have the right to manage and decide who should use and what the

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/3

Sign up to view the full document!

lock_open Sign Up
Unformatted Attachment Preview
1 Basic Features of Real Property and Personal Property Name Institutional Affiliation Date 2 BASIC FEATURES OF REAL PROPERTY AND PERSONAL PROPERTY Personal property is a movable property, while real estate property is an immovable property. Property rights have been considered as natural and can easily change. There are several types of real and personal property. One of the issues related to the basic features of the real estate and personal property is the bundle of rights. Bundle of rights in real estate and personal property gives the buyer the legal privilege of ownership when the seller transfers the title of the property. Another person could have the right to ownership of the property if he once provided labor or material to be used in improving the property. Bundle of rights could lead to problems about the possession of the property. A neighbor can claim that he has the ri ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
I was stuck on this subject and a friend recommended Studypool. I'm so glad I checked it out!

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Documents