The Bundle Of Rights 3

Possession. The Right to Be There. This is the right to physically occupy the property. It is yours. You have the front door key.The Stick you give away: When a landlord rents a house to a tenant, the landlord gives up the Right of Possession temporarily. The tenant now holds that stick (Possession) in exchange for rent, but the landlord keeps the other sticks (Disposition, Control).5. Control. The right to use the property in any legal manner you see fit. You can renovate the kitchen, paint the house purple, build a pool, or tear the house down. You are still bound by Zoning Laws (you can't build a factory in a residential zone) and HOA Rules (you can't paint the house purple if the HOA says beige only).