Ownership as a "Bundle of Rights"

You don't just "own" a house. You own a bundle of specific legal privileges. Think of it like a bundle of sticks. You can hold all the sticks, or you can give some away (like giving the "possession" stick to a tenant) while keeping the others.We use the acronym DEEP C to remember the 5 core rights:Disposition: The right to sell, will, or give away the property.Enjoyment: The right to use the property without interference (Quiet Enjoyment).Exclusion: The right to keep others off your property (No Trespassing).Possession: The right to physically occupy the property.Control: The right to physically alter or use the property (build a pool, paint it blue).Takeaway: When you sell a house, you are transferring this entire "bundle" to the new owner.