La Jolla Real Estate: La Jolla Luxury Homes

Oceanfront La Jolla Homes Come With a Bundle of Rights, What are They?

Owning an oceanfront la Jolla home carries with it a traditional “bundle of legal rights” transferred with the oceanfront La Jolla home from seller to buyer. These are the recognized rights of the holder of title to the property and include:

• The right of possession - the property is owned by whomever holds title;

• The right of control - within the laws, the owner controls the use of the property;

• The right of exclusion - others can be excluded from using or entering the property;

• The right of enjoyment - the owner can enjoy the use of the property in any legal manner; and

• The right of disposition - the title holder can sell, rent or transfer ownership or use of the property at will

• Ownership of land is holding “title” to it.

The evidence of that title is the deed. The seller executes a deed to transfer title to real property and the bundle of rights that go with it. There is really not much more to it. Most buyers are confused by this simple, yet important list of rights, as they seem to obvious rights of a new home owner. But least we forget, that Real Estate is a legal transaction that spells out all terms and conditions for both buyer and seller. Failure to put this bundle of rights in writing, and to convey they to the buyer, would fail to make the real estate transaction legally binding.

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