ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -So what does it mean, exactly? The term “bundle of rights” describes the set of legal rights associated with ownership of real property. The “bundle” is made up of five different rights: the right of possession, the right of control, the right of exclusion, the right of enjoyment and the right of disposition.

Detailed explanation-2: -One stick might represent the right to use the property. Another stick might represent the right to sell the property to another person. A third stick might represent the right to give the property to another person, while a fourth stick might represent the right to bequeath the property to someone else.

Detailed explanation-3: -There are at least three exclusive rights that can be owned by someone who holds the right to property which includes, (1) the right to get the use of goods; (2) the right to earn income from ownership of goods; and (3) the right to manage and sell or transfer ownership rights to another person (Mello, 2016) .

Detailed explanation-4: -Deed of Transfer of Rights is executed to legally bridge the transaction gap between Sale Agreement Value and Sale Deed Value if the property is registered at Guidance Value or Circle Rate. Taking forward the same example of Mr A, who bought flat in Delhi for 1 Cr but registered at 67 Lacs as per circle rate.

Detailed explanation-5: -The most desirable bundle of rights in time-sharing gives the buyer privileges to rent or sell the interest in the property.