Michigan Certified Assessor Technician (MCAT) Practice Exam

The Bundle of Rights refers to the legal rights that come with property ownership. These rights typically include the right to sell the property, lease or rent it out, give it away, and enjoy it.

The right to demolish is not commonly considered a part of the Bundle of Rights in the same way as the others, as it pertains more specifically to the use and modification of property rather than its ownership or transfer. While the property owner may have the right to demolish a structure on their land, this action often requires adherence to local zoning laws, building codes, and environmental regulations. As such, it is not universally recognized as a fundamental right associated directly with the ownership of real estate, which emphasizes the rights to control and transfer the property itself.

Understanding the Bundle of Rights helps property owners and assessors recognize the extent of ownership rights and the responsibilities that may come along with them.