What does bundle-of-rights theory mean?

bundle-of-rights theory meaning in Law Dictionary

The concept that compares property ownership to big money of sticks with every stick representing a distinct and separate right associated with property owner, e.g., the ability to utilize real estate, to market it, to lease it, to give it away, or to elect to exercise all-or-none of those liberties.

bundle-of-rights theory meaning in Business Dictionary

an easy method of describing some of the more difficult facets of private ownership of home, especially in the outcome where one home has numerous proprietors. Big money of sticks can be used as a visual metaphor for many types of home liberties that may be had, including not restricted to the ability to mortgage, offer, give away, enter or use a bit of home.