Know your property rights as the owner of real estate

Know your property rights as the owner of real estate

For many people, buying a home is a big investment. It is a great source of pride and security which has many important advantages. Indeed, buying a house or any real estate property for that matter is an attractive long-term investment. However, as an owner of real estate it is very important to know the rights to real estate property. As a rule, owners are free to enjoy the use of their properties as they see fit. But like most things, these rights have limits bound by recognized rules and laws.

The property rights of a property owner

As the owner of real estate, you have individual rights that go along with your ownership of real estate. Therefore, it is also your responsibility to educate yourself about these rights and how you can benefit from them. Real estate ownership comprises a recognized set of legal rights called a “set of rights”, which are granted to the holder of the title deed and are as follows:

 The right of possession of real estate

 The law of control and management of real estate

 The exclusion and enjoyment

The right of possession

Possession is a basic property right, which exercises the power of a property owner to have physical control over property. In short, whoever holds the title owns the property. These rights, however, may be limited by instances where the title holder does not meet other property requirements such as unpaid taxes, mortgage notes or liens on the property.

The law of control of real estate and management of the use of this property

The law gives owners the right to control and manage the use of their property in many ways and as they see fit. This is as long as such use is permitted by the rules, restrictions and legal standards in the area where the property exists. In addition, restrictive covenants from homeowners associations may also limit the title holder's right of control. The owner must respect the penalties and the exclusion from the contract.

The right of exclusion and enjoyment

The right to exclude gives you the power to keep others away from your property. As the title holder, you have the privilege of dictating who can and cannot enter your property. This rule applies in most situations, except when a law enforcement agency serves a search warrant or when certain easements are in order. Being able to regulate people’s access to your home is what makes it your property.

Regarding the right to enjoyment, the owner is allowed to engage in enjoyable activities on the property as long as they are within the limits of the law. In addition, the events in question must comply with subdivision rules and the owner's commitments, if applicable.