What is The Bundle of Legal Rights of a Del Mar home Owner?

Along with homeownership comes something called a bundle of legal rights.  These are transferred from the seller of the Del Mar home to the new owner or buyer of the Del Mar home.  These rights transfer to whoever holds title to the property.

* The right of possession - the property is owned by the entity that holds the title;

* The right of control - the owner of the property controls the use of the property, of course abiding by all laws;

* The right of exclusion - the owner of the property has the right to exclude or disallow others from entering or using their property;

* The right of enjoyment - the owner of the property has the right to enjoy the use of the property in any legal manner; and

* The right of disposition - the title holder of the property has the right to transfer ownership or title, sell or rent the property whenever they would like. 

Owning land is also referred to as holding "title" to the property.  The evidence of that title and ownership is the deed to the property. The seller of a piece of property can execute a deed to transfer the title and the bundle of rights that we discussed earlier.

These rights may seem simple and somewhat obvious, however buying and selling property is a legally binding transaction.  It's critical for every detail to be documented for both the buyer and seller.  If this bundle of legal rights is not put into writing during the sales process, the transaction is not legally binding.