SEC Charges Eleven in Stock Manipulation Ring

[Bruce A Thompson]

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Remember from Real Estate School the "Bundle Of Rights" theory?

In Florida, only God and the State Of Florida can own property. The State Of Florida (and the underlying municipalities) represent God in that they "Rent" the property to the "Owner" for taxes paid every year.

What a property "owner" owns is a bundle of rights. These rights include the right of quiet enjoyment, the right to quiet title, etc. Other rights include riparian rights and mineral rights. These bundles of rights are transferred in the "sale" and usually are warranted by the seller to the buyer in the form of a Warranty Deed.

Mineral rights are the basis for the goofy title rules in California. After gold and oil was discovered, and before the state was developed and populated, most if not all of the state was sold off to oil and mining companies. The companies sold "land" to developers but actually only sold this "land" in the form of 99 year leases and reserved the mineral rights to the seller. That is why "nobody" can own land in California.

There are actually some places in CA which convey property via warranty deeds.