THE CE SHOP PROPERTY OWNERSHIP
AND THE BUNDLE OF RIGHTS EXAM
QUESTIONS AND ANSWERS
Appurtenance - Answer-Automatic ownership rights that are the natural consequences
of property ownership. Property owners may keep, sell, or lease these rights.
Some rights associated with appurtenance - Answer-1) Profit
2) License
3) Air rights
4) Subsurface rights
5) Water rights
Profit - Answer-the right to take products out of the soil
License - Answer-permission to do something on another's land without actually
possessing any interest or ownership in the land. May be revoked by the owner at any
time unless a termination date has been specified by contractual agreement.
5 Bundle of Rights - Answer-1) enjoyment
2) disposition
3) possession
4) control
5) exclusion
Possession - Answer-right to occupy the property
Control - Answer-right to determine interest in the property for others (The title holder
can use the property in any way that is not illegal.)
Enjoyment - Answer-right to possess the property w/o harassment or interference
Exclusion - Answer-Right to refuse other interests in your property (The right of
exclusion allows the title holder to limit who may enter the property.)
Disposition - Answer-right to determine how, when and whether the property is to be
sold, leased, mortgaged or transferred (The right of disposition protects the title holder's
right to transfer ownership, permanently or temporarily, to another party.)
Surface rights - Answer-land and water rights
Subsurface rights - Answer-rights to use underground resources (ex: natural gas and
minerals. Often called mineral rights)
AND THE BUNDLE OF RIGHTS EXAM
QUESTIONS AND ANSWERS
Appurtenance - Answer-Automatic ownership rights that are the natural consequences
of property ownership. Property owners may keep, sell, or lease these rights.
Some rights associated with appurtenance - Answer-1) Profit
2) License
3) Air rights
4) Subsurface rights
5) Water rights
Profit - Answer-the right to take products out of the soil
License - Answer-permission to do something on another's land without actually
possessing any interest or ownership in the land. May be revoked by the owner at any
time unless a termination date has been specified by contractual agreement.
5 Bundle of Rights - Answer-1) enjoyment
2) disposition
3) possession
4) control
5) exclusion
Possession - Answer-right to occupy the property
Control - Answer-right to determine interest in the property for others (The title holder
can use the property in any way that is not illegal.)
Enjoyment - Answer-right to possess the property w/o harassment or interference
Exclusion - Answer-Right to refuse other interests in your property (The right of
exclusion allows the title holder to limit who may enter the property.)
Disposition - Answer-right to determine how, when and whether the property is to be
sold, leased, mortgaged or transferred (The right of disposition protects the title holder's
right to transfer ownership, permanently or temporarily, to another party.)
Surface rights - Answer-land and water rights
Subsurface rights - Answer-rights to use underground resources (ex: natural gas and
minerals. Often called mineral rights)
