Ownership of land can be thought of as a bundle of rights. Many rights are associated with ownership of land, such as rights to use, rent and sell it, cut down trees, build structures, extract minerals, hunt, and so on. However, limits are placed on that bundle of rights. Laws and regulations, as well as any easements attached to a deed, can limit the landowner’s rights to the land. Tenancy is defined as the right to use property for a specified amount of time, as granted by the owner. Tenancy rights mean that you do not need to own the property in order to use, care for, and benefit from it. (To learn more about ownership, tenancy, and leases, see the “Farmland Tenure” and “Leasing Farmland” lessons in our Acquiring Your Farm online tutorial, and the resources in our Farm Seeker Toolbox.)
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