Rights in Real Estate
Rights in real estate can be sold individually or collectively. Each right is separate and distinct. When you sell the entire bundle of rights, it is known as Livery of Seisin: "I own it and I have the right to sell it."
These rights are as follows:
- To sell
- To lease or demise (means to lease)
- To encumber (means to borrow against )
- To use
- To enjoy
- To exclude (means no trespassing)
- To will or devise (means to will )
- To occupy
- To cultivate
- To exchange is a deferral of capital gain
- To explore
- To license (means to give others permission to use)
- To dedicate for streets, schools, and parks, etc.
- To share
- To mortgage
- To trade
