Ownership Basics

Question 1

Bundle of Rights

Answer 1

PUQD
Possession
Use or Control
Quiet Enjoyment
Disposition

Question 2

Possession

Answer 2

Right to Enter and occupy the property, invite others to enter or occupy, and the right to exclude

Question 3

Use or Control

Answer 3

These rights involve the purposes for which the property is used such as living, stores, farms, mining or no use at all

Question 4

Quiet Enjoyment

Answer 4

Right of owner or lessee to uninterrupted legal use o the property without interference or undue disturbance caused by defective title

Question 5

Disposition

Answer 5

The right to keep the property, sell it, lease it, give it away, etc.
A Disposition refers to the act of selling or otherwise ‘disposing’ of an asset or security. … Real estate (a building), land and other asset types can also be considered assets that can be disposed of. Still, other forms of Disposition involve transfers and assignments.

Question 6

Freehold (ownership) Estates

Answer 6

Freehold and Ownership=the same thing. If an individual has freehold interest, he has an ownership interest in the property but may not own it free and clear

a. Fee Simple or fee estate
b. Fee simple absolute